jatalia global ventures limitedjatalia.in/wp-content/uploads/2018/09/approved scheme of...
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.Jl.JISJ{P/E I:NPOCJ'P,CJ{ £<r'(JJ. Corp. Off: 307, Lusa 'Tower, }l.zaapur, (J)eUii-110033 (IJv'tDIJt)
<Ph. : 011-40424242 Pa:{: 011-40424200 'E.-mai[: [email protected] We6site: UJWW.aaslieeinfotech.com
CI1v-L15142J{q?J.987<PLC049459
AIL/L&S/BSE/2018-19/
14th June, 2018
The General Manager listing Department, BSE limited, Phiroze Jeejeebhoy Towers Dalal Street Mumbai- 400001
Dear Sir,
Subject: Intimation to Stock Exchange pursuant to Regulation 30 of SEBI Listing Obligations and
Disclosure Requirements) Regulations, 2015
We wish to inform you that Hon'ble National Company Law Tribunal Chandigarh Bench has approved the
scheme of Amalgamation of Aashee lnfotech Limited (The Transferee Company) and Jatalia Global Ventures
Limited {The Transferor 01.), Lusa Private Limited (The Transferor 02.), Jatalia Industrial Park Private Limited
(The Transferor 03.) and Surya Soft-Tech Limited{The Transferor 04.) A certify copy of order along with
scheme are enclosed herewith.
You are requested to take the above on your records and oblige.
Thanking You
Yours Faithfully
For Aashee ln~tech limited
Ma:j~g~~ Ji., ,l~>C
Prachi Sach eva
DIN:07242052
'R.§ga. Office: CFfut !No. 2, (J)aufata6aa1q,aa, (Jurgaon, Jfaryana-122006
I ---",-\ TIO" \.L CO:\IP,\ N, L.\ \ \ fRl.lH.,"'AL
CHAi'IDTGARH BENCH CORPORA TE BH. \ \\ Al\, PLOT :'-10. 4- B
GROli\ 0 FLOOR, SECTOR 27-8. :\-lAOlfl A \1ARG, C HA. "\DlGARll-160019
!'lo. NCL TtReg.1Chd -1 n 1 Dated ) 3 · ~ -I '8
CP '\o.PI 1f 201 ~ I{ I CP (CA,\l 'lio.l !21Chd/Hr:,/2(117
Jmalta Global \" .:mun:., I .tJ, lia\ ing 1b Reg, ,;,cred Offi.:e ai :ls T A.-4~ 40. IJLr Pha-.e-1. Gw gaou· I~:,: 00.'!. Haryana
~. Lusa P, t l.l<l havirl! ll~ Reg:<1ered Office ilt Jam llouse 20. Gcl·t.' \.faril.e1 C.,!cta \!andir Q.,1nl1. P:1:11pa1-D2 ! c,, H,iryana
• Jacah;i ln<lu,1ru P·,r.. P,·t L!J. ha, ir,g •t• R1:g.1,te:ct! Oflkc- at Jam Housi:' ~O.
Ge~ta \larkcL Cic:ct,. \1and1r R,1ud. l'ampa1- t 12 llt:l. 1 lat~"lll3
C!) '-u. r· I "' ~1, 1-t Ri tP !CAAi N. .. li!':7/fr:r!lt-ry ,..O: '/
..... l'eti11oncr Transferor Company No. I
.. P~tmoner l r.m, feror Company 'lo. 2
.. Pennoner, Transferor t.<'mpan) "lo. J
Pem,,1ner 1 r,nsferor ( ,rnpanv No. 4
. .<\a~lh'.~ lr,ft11~h 1 rd havmg 11, Rc,21s1rr..-d Oitii.:e at ..\--lK -ltl. DLF Phasi: -1, Gurganu- l22 (Ki~. Harya1w
Peutioner Tran~feree lompany
Plt!a~e fir1d t'm:losed her~111th fom1al onkr a, per fQnn No. C .-\A 7 or Compa111cs ! Cw11pro1111~t',, , rrangt:rnrms ,md Amalgamauonl Ruic, 20 l /1 containing
1hc dirle.:nons ,,i' 11\c I Ion bk Nat1011.1I ( 0mpany Ld\\ I nbunal. Chandigarh Bench.
CP ..._(, 1 '1 Cil 1(11-1 1-!l o, (CA.Qf ~o ll2/C1tci:1--1ry,:a::--
FOk\1 '-"o. CA.\,7
( Punu11nt 10 j\'l'tion 232 and rule 20) 8dore the \arional CompanJ La\\ Tribunal,
Ch,tndig111 h 8 -,u( h, Chaudigitrh
C P No.171 t1f20 I4 RT CP lC\A) "lo.112/ChdlH~·/2017
lo the matter of th,• Scheme of Amalgamation:
Jutalm ~ill•hal \' enrures Ltd. havm!_: 11.; R.:a1ster.-d Olfi..:c a, AT ,\.4'( 4fl.
DI f' Pha,e I. tiwgaon-122 tllJ2. Han,ana
Lusa Pvt. Ltd ha,•ini; ILS Reg,stere,l om.-e al Jatn How,e 21l. Gci.:ta \.farkt>t. Gecta Mandir Road. f>an,pat-13:! 103, liar) ana
Jatalia !ndustnnl P.irk Pn Ltd having it, Re_,;i-rcred Office ;.11 Jam Hou,c 20. G.:t'ra :'\larke,. f ,ec'ta \1,mctir Ro,1d. Pa111pa1- l '\ 1 I PJ. Har~;m.i
!:lurya Sort-Te.:11 LHJ havi111.1 Iii. Regmered I )Hice~, Ideal I lou.se, Plot :-:o. 2 lJaultaba,1 road. uurg;wn-l 22 002. Haryana
Cl'*\1, 1·1 ,n.,rJ,,. Kl P1L!A1"-o lll.10id/t11wf<-.l
l nder Section 2J0-232 of the Companie'> Act, 2013 read with Section 66 and other 11pplic11ble
proYisior, of the .\ct.
P~1i1ion,zr, T M'l,lcror Company No. I
f't' riri,,r.cr ' arisferor I_ (\ffl l ; CIV \/o.]
P.t· 1 t rn1:1' -r11111.;,feror r , n,., \ \,r1. 3
Petitioner 1 r:1nsferor r •111, \/o. 4
,\11,h~'C lnl,•!L't Ji l t.1. hii\ mg 1b Kt"g ;t.:r'::tl Off,c-r ,11 J\.J;,' !II
DL f Ph.1,c- l Gwga;111-1 :?.'.! !IIJ.1•
Haryuna ... Petitioner11 ransfe~
Company
lJpon Lht' ahove petition coming up for further hearing on OM.On. · 8 >1d upon
reading the ,a,cl pct111,m. repon oftht. f<eg1onal Director. Nonhem Regmn Y1inistryof
Corpora!.: Affall', l\cw l).:lh1 b) way c>t affida, 11 along wiLl.l re.port of the Official
Liquidatm. cu111pliancc afii<l.a, 11 ,ub1mned by the coun.,el for the peutioner c'Jmpames
and h.:anng dw 1,:amctl ,·,Ju1i.:;cl tor U1c p1:11110ner compames . the leamM t.·nu r sel Mr.
Deepankur Shanna rq,n:~cnung the Oflkial l.iquida10r and al~o the Reg, ,,.,. I 11i:.:1or
:--ionhcm R~giN . M1111~11')1 oi C'orp.:,ra1..: ·\tT.urs. Ne\, Delhi and c.arerully pcr.ismg the
n:u1rd~. the tribu11al apprnv.:d thi: ·;cheme of umrngemem of run.:.,f!a .• 1at.a1r of
Transteror Companie~ with the Tran~fcree Compan) w1tb the clarifi~.i11?1 JI I.ht,
order ,h,;uld ,1ot be ~ur,-;trucd a., ;rn ordi:r tn any wa); g.ramirlg excmpuo:. '<,),r -ayment
of J'l) ,lamp duty, taxc, L•r ,my other charges. if any. :ind pa>'ment m -'~- , .... ,cc- w1t.b
•~"' ('I 111 re;;pect of nm p~nrns,1011 rompliam:t! with any other reqm:cm.-11 . ".,;.;t. may
hi: spe..:1rkali) rc::,,,mcd ,m,k1 an: 1a1, \\ 1tl1 the ~ani.:11-,11 .!'Im: ~,,·.eme. l.t , r.,n.,Jernr
l",,rnpanic:- "lo. I Ill .. ,h:.111 ,:and J;,~,,h t.:tl wi1hou1 he,ug -'UWII.I up rc~._,1.i,l£ .. , m.re;m,e
,n the )l:are c&piL l ,,l ltc f ,msfrr,:e C. o:nprny
l I
THIS TRIBl ';\,\L 00 Fl'R l'H.f.R ORDER
TI1u1 1ht! .\pprnnll"J Dute 11,r th~· pu11)0,i: 1Jf the Sch-:111,: ,lwll l.
.2lll4.an.!
I April.
\
\,i;_' ,\ k 11) Tiun all tl1,· propeny. righ1s and powers of the Tninsteror ' ,1-np •nies be
i li~ transferred "ithou1 further ac·t or d,:c<l " the fran~fert>e-romranv and
, f s' ·,t:.' ~c<'mdinglJ, 1h,• ,01uc· shall pur,uunl 10 "cction V,0-232 ofth•: .'-\cl...,., tnln~k1Ted
-~. -!< •
•'
to and ,,r,1cll III tho, I ran,;tcr,:c C11mpany for all the e.~talt' and nk·r~"SI c>f tht:
T ranstcior-t'0111pa111c, hut ,.ubic,·1 ne, cnhdl!S~ tc> .:111 chaTI?e" no,• ,,ffe,•ting the
,i11l1..: . au<l
111 Th(lt ,111 the l,ab1 ,u~ and ,li.1!1¢. c•f lhi: Tr:in~ieror-CllITTp,ill,.:, b..: lr..i,~ferred
"ilh<>ul t'urn.,·r • .r de'<·.! I<, 1t.~ I ran~fctc~ Cmnp,rn~ a.,J a_. ;rJ, .. ;:1. the
CJ>-..,, Pt 1), Wt~ k1 (P !C\A1 No 1.n:thd/'1r·1/1Cl 1
~,i-
,ain" ,hall pursu3m w Secuon 230-~31 of lhe A.:t. i:,., Lraru.fcrreu 1t, ,rnJ necome
the li::thil111e, .ind d,nu:, uf•hc: Tron.,feree-Compam. am.I
I\ ·1 That aJI the el!1ployees of the l ran,tcror-Comparue, ~hall '~ tnlP•f.:rr,·d to tbe
I r,ms rere;::-( ,1rnp,m, m t.:nr,, c•t the ·<;,. he111i: · J.1111
,. , Thm all proce.:dlllf · 110'"' pend mg h} or agamst tlte 'l ran, ".:1w • .1 , U'ie, tie
C(Jntinued I:>} .-r r:gai.1s1 the TrJn$ferec Company: anJ
'I I l hat rh.- T rar ;fcree-C'ompail\ Jo v•1thc1ut t't.u1h<'.1 o.pplkat:,111 1:· • ·,· all the
member, oi ti,e Transfemr-Compam~ the ,hare;. i11 the Tran~fen.·~-< ~-,..,pany to
,~ h1d1 lht') an: enurled under the said Scheme. aml
, 11) That the tee. 1f any paid by the Tran,,feror-Comp.uii;:, vn 11.s auth, , ,.,, .I ... .ip1tal
sh111l be ,el off 11gamst <1D) tc-e, pn)nble hy the Transtere~-Cou,1,111, on its
;1uth(lru.:d .:arital ,uhsc4uen1 10 the ~rutclton 01 the Schernr: and
v1111 fh-,1 th"' ,,1dc'1 ,,\ 111 not be ron,,n11!d a., an ••rJer grarmng exempno1 li ,pecuve
cumplrnn.;;: ~, per Sl:BI :\ct, Ruk; or Reg.ulauon ,s applicable ti •ht ·~unoner
(ompan,~s. 01hern ,,..: than I\ hat 1;. permts,ihlt." n tht! ~E:RI Rc::rn111•1, 11~ l he
Per1t1nnel'," 11 c11n1pl} ,,ith 1he dppltcahle pr(,\1'1011$ _: th-: i:::-c 1 .,, __ latJons.
Jlt.):ll sanctwn 111' th~ Scheme, and
ix) That the Peutmner C ompanit!~ do. within :\fl da~, al'tt:r the ct.He "I ,.:~t. .,1 ot ttu~
oru.:r, CdU ,e 11 .:tm !ictl copy ot ttus order tu bt' tikJ 1.1 ,:;, ,<..:;1~.n\f of
( ompa111e,; lor n.-t1s1ra11on ;ind nn sui.:h cert1lied copv ""Ill!! ~, ~-,a- . ed. Lh.-:
I r.;nsferoi C1Jmn:1111t..,. ,hall b.: d1~,oln~t! \\ 1Lh<•ul unJ.:rg1.1u11, rh,:: pro.;css of
\\i.I1Ji11g up am! the concerned Rcgisu·ar of Compame, ,hall place .,11 d,,cumenri;
i't,lat,ng 1,, th~ rransferm C,)mparnes and rcl?-t.i~cn.:.:. \,1th h.:.:, oi, L.,. , • ,,.:pl in
rdauor. to 1he Tr.w,;kn:e CC'lilp.1!1) and tile~ rc;;!.tl.i.g: to tlit: . .,;.i , ,.,1.• ... 1 JI and
~- -~ ,P,;, i1' That the I ransli:rc.:'. { ,.1mpany ,hJII J,·po,it an ·,lllh)Unt of <011 11,II - Rupees If,__~:,« " . {
rr~ . .;j <ffi:~ ~ix(~ Thou,autl only) v. ith the Oflkial l.iquiJ .. 1t(,r and f40 [J()() , R II'·~~ Forty
\
'. t• ,, •'llwus.mJ w1I~) m Ja\'llllr ,,1 'lh, LJmpan~ I.a" Tribunal h,,· \ ,.,,;1,1tmn. •:,. I
"" · ,,1..,... ~ 'Chandigarh' wtthu1 3 ornoJ l•I lht \\ecb frm11 the d11tc 111 r::cc •' ~ .ert1fied ' , ,, . t•·" '~-~~ ,:,
~p\;'-' l""J l,t.!HIJ
RJ CP ((Af\l N.:,.17)/!,:nUlrH"'(/20!
--. J\I' That Jn}' p<!rson inter~,t~d stu.11 r,c; :,t liher::, 10 apply m th~ Tn~un.11 111 rn,: above
ni.,twr fi,r nr,, 1.hre, t• ,, .. trrnt ,i,a, b~ ne1:<.'s:;ary.
D11ted: 08.06.2018 (B) rbe fribunal1
0
• ·~ ,.
. ., \~,&t\)_, ,,, / '.t
/ \" (, (M.5<-Cflll ,-Designated R~gisitar
National Compam La" I ntunal, Chandigarh Bencl,
'-C' HE()l.LE \
--- {attacb.-d :•• ,uppli~d by the 1 ran,feror C:oninan, 1
CP '\\I I II ,,)I .?''H II rn cP 1tAAi 11.0 I.12.. c1,d/Mryt..0~1
,2)6]1~ (; (;. t "I\
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12/1/1 3 1J.{r,,c1
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1N THE NATIOt~AL COMPANY LAW TRIBUN.PL "CHANQIGARl-1 BENCH CHAN01GAR1-I"
CP No -~1 c• !014
RT CP (CAAi No. 122/C!,d 14r"'l017
In 11'e matter of·
Jatal1a (j,c,l~a, '.J 13:ni:ure.:, i_~a •·av,nc; 1t, Reg•sla1,;d Offir:e al ATA-J8140. DL>' Pl1a".,._, Gurgac1'- • 22 002, Hary,ma
'...l-1S8 Pvl L ,,,.
Under Section 230-231 of 1tia Comrum1es Act, 2O1:l ro;,d with Section 66 and nth'l' ,:'}pllcable
p,ovisions of thP. Act
Fet•ttor.errr,ansferor C ~, , No 1
h ,.;11n:::. 1~ K ~.i::r .,ti: ,cc Gf! ce a\ l,,,i, • ' ) lu\. £.V G~P-1.i! P-.iia! .a~ Gc<1\3
~'° r,, .. u ~ ,~o Pan,pa,- 1 :l2 10~ Har n:ir '>
Jatalta mo1.1str1.a• Pad< Pvt ~!d nacin:; ·1:; Reg,s1ere1I Of'1c,;, al .Ja,n •-liJ,;•.e 20. Gaeta Mar,ei Geeta
Ma;'<.ilr Road P,111,pat· • 32 103 Hat) arn, Petitioner/ lfansit:1 1
,
~Lr r'ci .J81t ;:,..h L;r1
•,av·" J t, r~~1•,lS·t·rec. CJff1ce Jt Ide~! t-1:r Jrt:i. P•c" ~o ~ Ou1:tta:'lar: ~uad
3'1J1 '"'jOn ... .,;. C·(.'2 1-\ur'Yt. 1"1,J,
,. !I. .. ,i. K ~-''°" l .,. ••.., :.P.
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A-48-'uO DLF PJ-:;i,e ·' G,.rli.,or-122 002, Ha•y;i1•a Pet:•.1oneriTra1isferll< c.:01 1pa-.y
Judgment delivored on
Coram: Hcn'blo Mr Justice R.P Nagrath, Member (Judicial} Hnu'blo Mr Pra!leop R.Set11I Member (Techn1c31)
~.y f<eo•o-·,;i ')1a: cinr r,,,n,s•r~ I (:c;,cr·atr Atl,l'I Reg1srr"1r ,, C-oo"O r<11f:'I:-.
NCT of D6>~ anti hJry.inv anrl the Oti11:.ial .. ,UL dato,
Per: R.P.N.Jctrath (Member !Jl
JUDGMENT
T l a jo I Sec)ntl Mct·cn peuuan filed by I
06 2018
cornoan,e •Qr 1 ·e ,,urpo,e of :11~ s.ancllon of~ Sr.neme ct Arrar •..:111r0
1I tfor
bl ~\ill,/ v·.;, SC'ierrC ol Ama:gam:JJ ;,.-, rl Jaial a Global veni~r.,., Uci, the
T .. ar,· roror Corr,panv ",0 et1tioner Comoany No 'i (ior ' P-1 .,
C:>11~;: 1v ' P·i- l tr" ,e Tr:ar-sferor Cornoanv- 21 Ptt l!Or · ~· ~ , many
... .. I
No 2 1ror ~r-:"· , 0 .? Cc,rrsr:any ). Jatal,2 Inrh,s1r ;;f Par,
ann 5 irya Sof• ~T .;!Cf-\ Lid :tie Transferor Com:iar,y-41Pe11uoner • .., ~.~ No
4 for o·e·,,tv P ·• Cornoa,v , with Aasr,r-,, l'lfotecl, L•ci. lh, 1r&0
sfP.ree
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referred
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o ll'e
rN,,.' r ,is ol S"are'lolo~s ~• al •i-.e Trarsfc,o, Comp·,rnes .:: ., , n,•i.,ed
:,,vcr 'h !"er" I as al~ l'o,ed 1t,a1 the'"' are no msP.C ,r,'l!
as ,., £
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I ~ ~?.d>m lt~c //•at '/lot T•acsferru; C01np;11,, T"r, I) 'e'or ("~"TlD.11 7e1 6A '81J Tr:.Jr;s.#e-;·or Cor
ot,v,~':! ca, 10 ,ns from /111;,o oank~ '.'l'S Tr "°r'-' sfcr01 C 1tr ~ '\; > 1 h
S<t•oeme of ArranJomeN does '10/ e•1:a,1 anv 1 ''l•os c:-al'!i<~ ,n" 1 ~:i a es no: a"'ocr cr-e, • ·
·~oc -4,, rs 1n p.
·1 • rected
')( I/HI wruch
~ >ocurea lilt t!J€.
' from 1ne lier 1J IS
;irso s11brn11tcd "'· i t"o saw 101J11s .v11/ bl' r- ,, by me r,ansf~1ce Co"'{:3ny airer //,
A.rrangemont!A-na/1;3mar,on ,s Silf'Cr,onea ,• Ct.-; aenr.g the a\llP,.. -•s "1P.de " •h~,:: ~ h 0Dtf" ::,. tn~r th, convemrt9 Cf tno rt1r?et1flf]~
_ -;,• ""'ft n 'Oi.... Tr~ -'tr.or C~p3rt ._,. C..:n,::an eq,,,,,Ar1 Jo t.E '1,sn n.sect 'h rh
j r e ;; !:.. H " c-~,. ap::,omtea Cr.a rpe-rs
Cl• J ~ r ,,, I e ,. ,,. ~;i r xec tr'(' 'ce quor:.iM o' •ne r•
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o' eo.,ri
,,tJ IS of x1.:rod
flsforoe
alterl"a'.e
, 'h other
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1 tit" Transfero-c CcfT'lp.JnV ,.s: also dlf9'.!l~cJ I=> pt.1b/mr• -t .1c: 1,"'£
1Jr,1,,.a oft11e atc<resmd proposed meet,ng ,,, 811s1nt1~-~ 5 '· , If: ·1qt1,;n, OP.i,'>1 £011,c, ano ',tansaaa fH1nd11 De;,',1 Ed1l1r • "1•e .Jt11t·F.nfst ""'!tfflt s slrnd De vubl,·shed n>1mmurr: 21 d:t:,,s ., .., .. ,,.. ·o ')Efme //tie • ~netfuie oar,, c·f 111A0t111g '
II 'S s,a!eo f,;~her Ir.at ,n lflrrns of d,rectlons 1s!>u'?d "Y t: e
and :h., $r.•,1>rne \•,a,, una.,,mously a;mroved bv the equity snrl u " ·rs
:,re,;cni ;;nd vo\11 g rho reaor1 of th" CnaIrp!"r50n 1r. at An!lexure , ' . IS
each Snsrennlners ,i\tende.,J •,e rnt!etIrg who :ogMt1f!r "lr,ltl 5, I~ .;- E· .J1tv
st)ares or ~101- ear.ho' :he va1ue of 151 52.580/· ann carrying 51 5..,'H ,r.tes
sepresen11ng 1 '! 90% of tolal r,md up snare caoItal . The result oi vr
reporl of Cr.Hpc-,rscn ~ as under-
-I Value ol Votes
-1::-'vnfm!) P01I
v,i0Cas1 fr?-2J70 .. --5,525a
. - . tr,val1d ,1o!es Nil 313020 31392(
• 1
Result
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, 1, oor
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Tra: t"E: list ol sh.;r~holdPrs r.l the Cot:1Dany wno ,otf',n ., ,,, '•P x,1~ Srt°if'.J("' B "'t! ,\rr,al11;_;r·.,nticri/Arrangf:ri1e~I oe1.ng aooc ,nd carr,,;•, ,ntr :,ff.,ct \who1ll nn, 1"10d1f;=!,nn ,~ P.N:losea n!'rr ~d '"1"1,'1'ke-d as Ar111--J~.:.,1re::--·
5
an,-J Hriryana Hl!JI' Cour1 ,.,e r, 'ill c,·oer dated 17 11 20 J .! ;:,asse,:J ,r ,, . ., ' $\
er on
a:mo,nte-'.I for 1ne ·11eet1ng has s•.;b'lllltcd :he ,.,;,art ll was ol,,o rn.,' ~d ·~.a•
s~parate secc,nd '11::JllOn peot,on was alreaoy [,led 1herefore thP •,, "1
petltmn was <11spo~;;::I .;f This order dated 1, 1, 2014 passeo hv th
H,an Court b.; mk (c;n ori record
6 Tne '""'"'€d coi;nse, repre,;antecl dunng argl1n1r ,,t i: ,l+e
of proxy :ind z. CLP, of the S('·•eme arid publ,cat,on of n.:' :ne
newspaoers ,7nd 0:11er mattf'rs
7. Therl"af\er. the •nstam se,:;ond ,notion 101nt Det,1,0:• •
of Sch1;"111e was (•l,;d before the ron ble Punjab ;md Harvana el , ,n I
When th•~ "Nllt'-" w=-, lis:e<i er ~::, • 2 2014 th~ Ho"1'hle H,;:;11 C-.o •ea
r:.r-1rporaip A•,~,·~ r-J. ··da ~fl(J ·~ ·he i'."'1frc1,:t1 I c l-W•d:c .. F't. .. rtt"il'?r i--,. . ,:·; " ;.rt r..;. ~I· '~1 1 n ·d
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8 it,e aff1c:av.1 of se'Vi~ c:aieo 20 0-1 20 1 S wa~ 1:1Cf1 Ir. I <l,
page ·ne oi !he p;ipe• oook rne tea•'1ed r.ounseJ fo• ;,e~t,oners a ., l "le
r,ewspaper p1,t,111Altior,s a,,d a:so copv ol the Off,c,a, Gazettee af. _;• .,, ,ro
A· I to A., w.1n 1n1s affidaY,! Ttce riot;ce was published in the 'Ina :ir t •' I ':>S
15
<1nd 1n 1'-e Offc..ai Gaze:ie o! Gov•m•r,erit ot Hary.ana cmed 03 J'
9 NllS
of Per:J'mq Pro;:e,,c·,gs) Rule;. 2C I Ii ,n v,,w, c: c>11rnrg 11,1~ fr r the
Compar .. ,, , .:omp;or,,se. Ar-an;,emerlS ;,nc All'algan,at,orq f, • '• 'O
wn,r.h came ,r,to effr.cl we 1 15 12.2016 .
,o rr-e c:>.' Coripany was 1ncorpora1ed on 29 12 HY,
lini,!ed comranv under •:ie name of Visha~ha lnfo!ech Uc The '1C nl the
Compa,,y v.;is. cr,nnged to ,;s ortisen: name Jalalia Gbhai vr~•· i ,;ind
a :res" ~e,;,ficateof lnco1po,auori was •ssued by the Registrar or " , . '11es.
NCT c• Oclh1 & H"'r,an .. S"bse:iucr•,,. the Re31sts:,red o'flc:e ,,any
vias r.t1arp>-'d frcJ1r 1he Siam or D,,1t,1 to ''ie State ol Hary;,r..., ~· ,,,.._., tne
1999PLC0~6U72 oatP.c! 01 05.2C 3 wn,ch IS a: OD,l<:: 431)'11'
C' "'-0. 17' :0•-1 RT ~,\I~ 1-,r~t, 1~ ~1Hry:0•7
'
,, H, na11,, t11tic:s c,i? ' Company ore to cal")' or :t. , , ss
of buying, sem,g. reselling Mpor~r.g, exoortmg, 1ransriort11 (,
develop,rr. prorr,o:,~g rr-art-e~ng )• supplyins;. trac ,g dea111
electrc~ _ gO<':iS 'Tl&C'iln"?S tools ';i-dware 11errs, dc,...cst,,
plast,c r- J:c,1'1.,,s !oa ,:of's-" Ol!ve·ages dr, cells oattencs nl 01
basis I" •1d1it ,;r e,scwhern ,,, ,l'le worfll, etc.
As o~ '11 03201 J, the atitnonzed ,ss;ieo, s1-bscrb
,,o stiare ca' al ... r P • co~·ra,.i, 1s ,is 'Oiir>ws
13
'4
~trorised Sh.are -Cap1tal +
00 00 0011 Eq, ,tv Stiare~ t 'i.OC 00 000 r,1 '1 &- eac+I
"tssued S.Jbsc11bod and Paid up Caplt~l _ _ _ . . __ _ 11 31 .ri,o cquily Srares oft~ 3.66 87 350 f ;,J. B<l£ts~ -· _ i __
(... ,-0 ,, 1 1,, w-·-.a.1J14J.J..r ,t
-::d
ress
I .. the
J. Its
' ' I
' '4K ~tnJ '
"'~" • ,i.
• ~-. - . -
I \,
•" I \.~-, •·'
,I
"
anr< Jpnn l"e sa,o cl iange •he Reo,-;,rar of Con ;:ianle,s 1Ssu.;J
15
up share cap11al of ?-2 Cornpariy ,s iis iollows
Authori~~d Share Ca_p,tal ~ _ _ _ n ;-oo E.c,111,· Sha·es o' ~ 33 ;-o_!./OC ,. 1.)(l e·•cn Issued ~ubscribed and Pa!!!_ u,e_ CaJJ•la! P 11r. E<1u•tv sr,a,es ,, , , J3,61 ooo t 00, (,a(')'
:ac:,111a:e and .. nde1ai<e de~c;0;:i1r,ent d fr,cus1r."' Pafrs. spur
Zcines lnOl1str,.:i E::~Ia1es. To.,.nsh•l)$ tn1rastruc:ure prOiec;s ar
sh
1 IC
or an kinds 11'0 10 ,::arry on bu~1ness of a-I r'!iateo serv,ces and «I,, ~· ,t,es
,e,a111'!"' ,w, ,,, etc The ccnv of Memorandum arid Art,r:1>.s oi ,
17
chHngn~ Fmrn tho State oi Deu,, to It•e Sli'!\e o' H:iryana and •
char-gc ~fie ~eglstrar of C.t,r,pa ,,e;; Issueo ;; tresrt c:er•ifie,ate
.. P *' ,, qs .;. \""AA;."l..._ ,_ nn ~ ,r1 ·,
I•
l' ,n of
,.,vale
va!;;
ol!Ort
-·
vrde Crt~-IJ41',,?Ci')!-';:: 2 )07P~c 04B' 73 <Jatec 16 {)5 2u· 3 a:; at fl' ~L
!he oa oe, !:look
18 As.c,- 31 03 201..t, !tie aulhcr,ze.J, 1ssuec 5ubscrlb~
up !\hara cep,tr,I of P 3 Comp,ny •s ar. 'ol'ow5
A·Jlhoris,id Share Capital '.i "" ticif, r~·"'Y sr .. re, h· ? ~ .. oo ooa z .. ,.Jlr?J: :!~
ls:,ued Subscnheci and ?;drl UJI Capil<_!I_ l '4,50r, f au,t, Si'.,r;;i;. ,,: ~ 34 ·15.00Cl f to, .. ear ... 1
• ,J
The 'flair ooject~ of P-4 CompcJny a'e lo <"es,gn Rl.f'!np
ma,nta,n. ~ell. rJ·stnbu'e. narKe1 and hcense computer sottwarcanr...
for ..ducat,oM" cornmP.rcial and ,ndul;tnal use, serv,c"' and othe· •·•;
ano lo orov1d.- 1-.,,s,ne$S, cc,mma,clal 'ar,d prOdr.:Cll\llty solutions ,, ,
based 1nformal,on and l)ther 5o?"-'Ce5 1nd11d,r g lrc:ens,ng o; r:omr,1.11,
,,.JaFr•;; or rnc .. de:,ta •1-,e,eto. e:c The ccny a' M-er,,orar,,1 "" ane1 \
Assoeiar,on cf P,4 corn;.ianv :s a• Anre11,re P-10
20. Trarsfernr Company No 4 was rncorpora!ed tin , 9
a pubhc lirnlted c;orr,;,anv t:incer u-,.,. name of Surya Sor· -Te
11°..,;t.,Hi
. •
E c,I
L • 'ts
Re,;w,Jer0 d off,r,e ,•,;i:, changed fro,,, 1I,e State o! Delh to lhe Stat,• • • • ,, . ria
;ind ,,pori the sa,d r;han:ie lhe i-eqrstrar of Comoar11es ISS:.J·~' ;; r r,s11
-;, ··~· t 1 ., . 1 F,i- .,,,\ +CAA·r .. c :;•,•._ _ 1r,'s. j
I ' I ' -, •I
10
cer1he21e o• req,s1r2i1on v,dE: C 1-1-Uili.!99HR 1999PLCC:48371 !Pill]" ·;;'1 of
21
Authorise~ ~hare Cap,t.:il --_ -3.? 00 ooo Equ,ty $"1ares of I , 3.00.00,000 f , O/eac:11 - - ~ ,~sued Subscribed and P a1d_u_e Capital :-i-: __
29,05.700 Eqw1y Snares of t 2 90 57,0QU t 101- r.,aCh - - -- ....J
T r~ T'"a1~' ob:e~ cf the P 5. 'he Transferee Con,;- - tr '""J
I • •
or sales wh,c" ~re "'<.w11ed o bring ;in~ soitwarn $0 deve,r 1, I, a
mar~.e!abl~ stall: ano to c;Jrry ,-,n the bu~mess of provu1ino t: ,q,r:,'
consulting ard all ac1i~111es reta•qo 10 maKe th,s seiv,ce <lCCep:a• < 111 t,;
chen1s .Jnd prov>d1ng export management consultancy and ~ •erl
act1v,1ies Coov of Memorandum and Articles ol Assoc,ar!on Qi t~ o 11 ,;.1ny
23. Translen:,e Cornoany was 1rcoroora1ec1 :m 03.0~' 1 r "-7 .ir. a
public iim ted cnrnoan:,r ur,r.sr u--,e 'lame 01 S R O,I; and Fats Ltd" • 'l' .,·ne
of the Trans!oree Cor,ipanv Woe,; r-har.;ied lo IIs present name • ,.., •~e-e
lnlo1ech ltd or 15. 11 :?fJD7 Fvth<;' tt .. 1<eg1sre,ed O(f,c(, o1 ~, ;r sfr.ree
CP ... t' .,.l c'1Q,4 JU(.,1(.,-\A1Nr n::i,1'"M 1Y1f'17
I,.,,
I I\, 1\, .. I
... \ "'' ,. :0,,...... \
14 06.2013 v•,1e CIN L 15142\-!R1\!8-;"PLC049459, as a! page h<'
paper bonk
/..!; or- 11 OJ 21)14 th., .,ut!ionze::, ,:;;5tWd su!Js<'riw ,r,r,1 ,i1d
25
Authorised Share_ Capital t-=- _ _ ~!l.50.000 f:,w:ty sr1are, or ~ 185 00.000 ~ 1 O;e~ch , ,SCl,C\JO 10•., ~eueem~ble ~ 15 00.000 Prefer,:nce Share.:, of l 10-' cacr, Total Issued Subscribed and Pai_d ~p ~!'pit"! 17.Co 720 EQull, SliarP5 of ~ 10ti:•actl
O.{W Snare~- Fc11,-e1teJ 1 ;;r <'O(l 1 O"", Reaeemaole "'• r..fe,,mce Sha·:1s r)' < 1 Q;
(!;Jr.f' Total
~ 3 70,5 7 20{,
t 5,72 66C
{ '5.00.000 ! J.91129 860
·1-,,.. A1.;d1te0 F·, ,inc1a1 51atements or tr,e Peu1,,, ,, r.. '1te::,,
as on 3• ( , 2c· J .,,e al Ar-•,e,,1re P.;,, ,Colly) Tne 11st or s'l; , .no1rers oi
Petitioner l,,Jmpan1e,. are at .\nnexure P-'.?, P-5, P-8 p., 1 ', ,, F-14,
rasp,~ct,vely aM list of D,recrors are at .Annexure: P-3 P-6 P- 1 , 'i at P-
..... ~· flo.l..' '' fl CA 1"1\1:. , .. ,: fl .. ,t....,.
26 Tre 1"'1'7ed co:.i.,sel le, the p1:1rn,or,er-cornpan,es rwre ·anted
!hat the•e has mil t''"t'ln ,ln\• c~ange 11he autnor::--eo, ,ssued. sub$< ,,,.,c c ,<1
27 Ttte rec1ste1;ic1 C>'fice of 111 •h1: Petrt,oner Co npar,,e, ~ ,n tr ,e
rribunal
28. ,Ne ha,e hearcl '1:arned collnset for the pet,1,:me·, ,, , . -s
and lhe le.,.rnoo cowl"\.~el represer.t1n1,1 :he Regional D,rector, tne Re
Compan,es 1'111':T of DF·lhi and Harvana OffJc,a' L1cw1da1or ar.o o
('\~,)t) / { r
2e9cord Q,11le c,,~
1
f, f~II\~ ~nsreror
['~ ~ \l,l ~ • , Gc,moan,es (P 1 It' ,:,_J l anr •
\ proposed Scnemo c,r Ama1gam;.,1,on \v1'l1 P-5 't11> Transferee Co.-.,,,
their resp.-ctiH' e•,ch,••011s .:ia:ec 27 Oo 2013 Annexure P-17 (op,,,
273 of l'1e par:tr book/ a:,d 1! was .-,,so approved b~· he Transferee
:ra ·Jf
r I U
V • CF\
(P-5 company' v1d6 •eso!ut,or dmed 28 C6.2013 as al page 27.J ~, tr -,se
resolu11ons certain :,,ersons vl'!!•e also a,,thoriz.ed jo1nlly .analor <,,- r r1 v to
file the rmrn,or1. att,oav,ts etc. arod to do all the acts ne<.essarv I r i- ,nd
pursue the pe~lion 1n me cour:& c,earl { Sl9hng the appointed dat-. t--· < ')f
11,pril 2013 I 'ie ·st ()i tllrectors .A P.5 evrnoaroy as on the dat" n1 '11 • r' tn.s
•l'\. l I' the :;etrtlc•n"• rornpan,E:s as on oa:e of aopro·,al cf thr,, Schon , ,, ·t _se
\.J,··{ \ . \
'"'Pfl.lo •1~c,1c1 .. ,=:.,. CA ":-'A,NO , ..... , e"'" 't'l 1
30
,.; R&o1g,m1ztt/ior, ;,! sha,e i::,1p11£11 of Tr,ms1eree Comp.Jr •, 1·
i;;f iWJUstment oi ,ts e)(istmg tosses aga1r,st ,ts pa:rt o " ,1,
Ciil_Ol!al as apoearmg "' :roe oooks of accounts of II r: t,a,, e
,·,m,r,ar.1· as ,,n ,1.e Apoomted Dale ! (31 03. 20, :lJ a, Ii :,,t;y
' .d
w.c 5hare c,1p,ta! of Transferee Co;npa.w ,.,cs,-,
'11r-ee \
I .- ..,e• rl;)e
I [I
;I . ~
Con•peny nv WFN of ad1usrmem or lossc;; of •1 •
L.ornra,.yas or. Appo,nted Date 2 {01 0..1 20131"
.ip P:tU/Ty share cao,tal ,n :erms of the oravrsiorn, ,
111e Schemt.•
ja/ Aeshes /nfotec"' L1rr,11£td (Tr;,i;s(eree L SJr?a Solr-rec/1 Uro11ted (Transferor Company t{
acar..mulated losses and the ma1or r:apitai /JDS l!u•
11 or
, • ,• and •,., huge
/b} Aa:;nee tnforech Lrm,ted (TransitJrec C, •1 , now bec3me prc.;,t ma1<1r,q cpmpany Ja!alm Gicbai I/·, •" Limited r,a,1sfertJr CompBn, lw; t I ,s /Yof,t makmq " Jrld is
~I"~ ,-. ::,'.IJ1,!
q-: (".A ,L..A.111',;,J 11',(i'l'f'I'\ :'!t'"
r
1!
expectee1 to ~re,\ rast m fvtura Lt.Sa Pr,va1e um./;.,1t T 1..-1 s ... er01 Cc1,,r,ar1y f\/o.2!, Jo1a1,s Indus/rial Park Pnvnle L,r.,1). ,. or Corr.;;,;my No 3/ ar..:J S1 t')'~ Soft-rt:ch L,m,ted tTri'lnsl, ~r.lf •any !·.'?.4J art! no/ hav:ng ,,,,,, business acr,v1t1es and nr· r; ., ·-;~IS Tne Sr,herne !';eei/5 la re~onstruct the 1ssuea, suusGI ·!>• ... o 1 p ard 1µ ,ar-,1a,' of the Transieree Comoany ,ind mere;< :· ~ t , , iss
i•,.,r,"- 1!! n,•n ~ss .·:~ ~nc i11;Wilil•os ot :ne Transferor<- ~,... )Pt£ s mto r, a , . ft!t NJ <.,onint,n1¥
, '"' n,,;1 rJm,·11gtJ"''a!,·on i~~.11/ g•v-e: '~o c-ori--i:41diiif7'Ct ,~r,., fm,1 1 ~- fr.,C,1lih1, o ·~r;!,atFJ retriu,r,_ t .,r., /;/fl /1 ,.'.;:~·~/?
1,J, Str'!,~9rne111111 a,,d cc,nsoliuar,no I!-1e posit,cr• or , . mo &r .ablmg {IH'Jff'l iJost arr\.1/ga,nauor. IO ;:,
,, .1rueR
lnG(9
.,, " 2nd .. i-JCVCJUSly 3ntf p,ofltab1;· .,,i an mcrea..~mqlv ~:r" ~ ,'!hera/izc"ld rr1arJite-t.
le, £nab!mg t,i,/Mr le,crage of lacllit,os. [n/ri}str. · r~s:,vrces and lo• oeuer admrn,sm1t1on,
/!,I A11gmenlin.; rma stmnqlhening c<"e I>& •: ., b;'1a/g3,.,a/cd cc,mpan,e~ rpsultmg ,n enh,ir• enrr"iJhdlr}ers \'cil1te
(::/I S1mµil(,c;;ti,;,n of the <lrt.crL.rc> of hO!t/1ngs ,,; 1, , 10 llt.J\''? bt:Jltet foe-us o, ~Jrowa, o~d · .. a'u~ J' a,,;/ 101aer ~.
1/1.' Er>ab/ing /l't 1rn;,lgamaw1 9ntrtios lo ttilr.r,,. '·na.ic,at ,n<;fJt,;t1on;;., :1,--; LieUer r-srms Tht:amwg:,m,mon .vi/1 r,71prcve o;,0r1;1,on;:,1 111J :
rTtat ;,,gern,;jnf iunc:•cwPy am'i '11111 t'?n/'lm 1c~ 'r,& ~ ber 0 fi! oi sl•areho/d•JtS ,.,, tho o,·s/rng entrtrns,
f,) Tho an,6/gama/•or- w,11 resuf: rn re.lr;cr,-. r;o'1111n,str.:it111,; manager,a/ and crlhar expend1t•ir opera11onal , atmna//za!,on. Qrganrzat,onat tdt,c:,er,r-, CJ/rl,z/ffion c1 various resourci!s.
/J_! "'" .;m,1/g,n:a/.on will ,hc .. J ,wp,,ca:wr 1·1'1,-/hms a~d .,,,,,,,'1,,IE mult10Ie 111cc, 1-k.acp,n'.t
,;J T11e sa•d s,·,01:f'il or a•rangcr11,m/ 1s " ... J c~OJnp.un·>::~ :r,p,r ~.1._1,r41<J!<1e.r.s. cred1rors ,..
nan
' /he :he
11 ~ and "·, the
~ the I 1f the
''811Jd r,,r the
"'toaas, ; r ,.,c aoout ~n.1 o.ot,n,at
,.._ircwve
··, ,~1 to the •nd all
cvr.r:emec c,.,,d \·~1£• r.;naf,,1f$ r,l:c:sd cc,tnpsn,t..·! 1"
0 :e,r Cb}ec11v~~ ,nv· .... !?fi'ic.terit\ an::J ocr;inc,, ,,er, I • t~,. 7• r,f X: ~
, ., d fulfill
sr " A.., ~r-:n,,i..:- )tJP
•
I l\ ' ' l .. f ,...
\ ,., -:\ J
')'
'
• 1 T•m r,,i:.1e r.f 1/>e shares r. f '½& com/J•necJ ,antJ/1as ~· , 'he :.,;i1c-re:10Jue,~"·vat~e ny tcccirwng .a /JBf1 ct ·a ~:::i.1n!fi.. c 1 , ..;·
ent,r': rr1t,'one/J z.,.1t1r:n of inler-t:.c,mpan1/ trans-ac!Jons er
32
E:<c.'">ange Rauo dated 27 06 201., pr,;oacM t,y M,s ~,umilr ! ,.,. <;, • r,
Chanered ,i.crourtant:c (A•,rexure P-18) and fairriess 0c,Ir ," d
The follow1rg Share E.,cr,ange Ra!to nas ::ieen P'oposul
Shan;no•<:lers Comoanv Ne,
----- --u: fra"S'cror 13 Share:i
• JGVL I Company for JGVL
or r n s
Sha,t:h1ild11rs ~f l •,"1sf~rY 91 St<ares ~ T, 11 9>r.ipan1. '-le ;. LlJSA1 _ _ C,)1np2~ fer • Sr.a:e r,i , ,.
I Shareht,lc...ors uf Ta-rsf":'rrir 6 Slia:es Ql 1rc, l.' t_Comoa'ly ~,c 31JIPPL) Co~ra~ for 1 Snare i' J L, ·,
5'1aren:-i!cers ::,I Tra:,sler,:,r 100 s1oaros of T )I
33
I Cc"1oany N,· 4 /SURYA' Compd''Y !n t:?-C" tit,, SL;RV /l 0H1w th;;r>
L_
The II te,es: of ,e,rn::,loyise& oi the Translero,
also bae"l ta,.e!i care ,,r and it ,s [')rc-111ded as un<iP.r-
" Cr th~ Scl1eme bi'lcoming opa, ;Wve. a:J s1 ..
om,:,1ovees o• .IGVI... LUSA, JIPPL, SUf:''r ·'
s;::r ,,ice !.J.1; on t'1e Effect11,,·c Da:e sn~IJ ,
Workr.ian E7lr,icyees of Aashee. w1/110ul <1l>J1 • •
t;."trv,cos and on r!Te tt1s,:; .,r ccnt,noity cf
·,as
,nd
1. t. in
,. 1treir
rerms and ccnd111ans of lh&r ;;mo loymP11t 1•:,w '-, •,;, ·,hall ':P >:O 7• C' ~, ·• q~ CA ,1r,;. ·~:C 1 71r .. ~J,' .... ,'J:il • ~
,I J-
\ " • ..J, \ \,,\
\
,, 7
SJRY .i " rela~c,r, :o 3/.Jcil runus sl1all becci•
amJ er.•11I,oy•.t<'S v.,I, be r, eat ad as '1av1•1g /lc•w co
W•1h ,~,a a~1oa"'' daied 18 08 2017 oi ~,ir A "' c
Sharma, the avmw,cect repri,~.~ntau,,e -:,; :ne Transferer! Co, ,
d•a•y No 1fii\7 tia,e:: 17.08 201, the necessary cen,f,ca:e~ of'
Auditors of all l,m oeur,llner compa:i,ns to the 1:fle,·' that
,, section \7) 01 Se:.!l"n <'Jfl ar,, rr-:i•. ,;o to "'·!"CIIOn 23.,,JJ ol '" '
When the mauer was hsteo o., 15. 12 20 17
companies Nere direclefl to ffe the balance sheets fer
sut,s.,,quenl to !he ,a,ancP. ~hec:ts :irreaoy flied .. pto Ma•u
Transle•ee Compan·1 wa~ also dire::ted to file alf1davit Q:
18 0' 20'8 wtth •11h,ch thP .,,Jtllted s;i:11.al acccunts ,
companies tor the lmanc,al years ending 31 03.2015 to 31 ,0
c~ '1.:..- 1~ .. 1 .. :;.i,. !{T ':,A OAA.-Nf) •'--''-' 1nr\~11
"
''I'.:".
- f ,,
;;. ,'1
I
I
")
.. ,e
,t •c.,
,ll-
t~
11. orer
11 . . 2.ed
,he
r zed
, · ,,nner
,,led
•
' ...
II ,s furtht'I ,late<: ,., the aff,d.:;vlt tt>a: 'lone ol Iha peutioner
accepted any put.hr depos•t nor these companies havli' , y
deoentures It ,s a-so tesliflec In the afndavit that lhe petilioner c~ , ,r
lhrnr coun,;,_,1 have rot • .,,ce1ved any ob1ect1on to the. oroooserJ • i ,
any perscn e~cei'.JI th'3 repon a'>d corimerts rrom the sial'Jlory
Tr.e-1~ linanc•at stillemems iilP.o by the Trarsfer,;r
examlnAd lhese repor;s but '1ave no1 :;,ven a,iv advPrsP. cor "
affarrs of tr>o. cornpan,cs eve,i after t:,e-- 1nst1tuhon 01 11·,1s f)ettlll
that tne affairs o' these comc;ime" .are being cond•,r:ted in a, ~
the compan11>·, tl1e shareholoers. c:rec,tors or there ,s a;irtn r
public ,mer.es:
3, Mr AK C~aru··-'ed1 Region;i, Oire,;tor f\/(lrJ
M1nisrrv of Co,,o~e a Aii~·r< f.1ec rt s repon by wav of .\,
03 C3 20;5_ Tl-tc O!tiCJa L,Q~1da!or has also hied his repor; or •1
along w,ir forwarding letter da• eel 03 08.2015
38 In the renon ct 1~,0 O'ficlal Uqu1r.fa1or, no on!e
raised against Ir>~ S,:h'ln1e _earn Ad Official L1qu1dc1tor has .!'.t.:M
affairs of the Tra11steror Compari,es 1,ave not been co,lducte,i
pre)udrc·al to tt:e ,r.terest of ls IT'emn,'\r$ crddliors or to ttw ,:
39 In t'ie Aif1:iav1t dated 03.03 2015. fl!ec by the i<r
Northern R~,;;1,,r; ',11•;is1r-1 of Cor;>ma1e Affairs ,t W.% stated Ir
CPNQ r aL•·u: 'l'T ~A CC"-'= NC' 1t;i.-. :+•!)',-;-i;i '
-,~
-r nrt
,i: "l l
• "10
,a
J <':Cl
"0
\0
,, er
'"''or.
to:.cl
from tr~ Eflecuve !Ja!e, the r ame )! the Transferee Com,.,.,, )
changed tc Ja;al;a GIr.l"al ve~tures L !l'l"l.:ed or sucn other c:a..,.,a
Comoany 'Tilly ':le •Jir"oct,'d to comply ,.. .. th the relevant prow
Cnrnoanle.s Act, 2011 J."'\d ,1u,ab1,ne!:: ~, the M,1;;s.try fOr ituJ ;,ro ...
.:o
comr.,an,es wer<c dlr~!et' IQ file ,nforrnahon ,n 1aoulc1\ea tern ,
the p•e-sc:lwme ;-inc post-sch':me !'hareholdrr.g pattern o:
company and a•s._ rrro :e:a,rs: o! chc nrofit anrI loss oft~~ pe1,t101
from o, 04 LQ•3 (G 11 OJ.;:>017 with the aff1daJ1! o: :r•
, ~~~{ ' reortisentau~,· of !he comp,inr~
:/-.' "' ~ \ -11 he lat.i.1Iate:!d ,r,'oITTat,on 11·ea v1oe d,a,..; N • ;, • 17 05 2018 i~ sup;:,oneo r,y the aH,cav,ts of (hE, awt K,rrzed ·c
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cd
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of 1he respective ;inr,1;can1 C-Of"'ioan,<!$ The pre & posr-scheme , , , . ,,,q
pattern ,s at A'1ne,ure 1 11t !his aff1tlav,I The profit anct mss ac-
y-,;irs 31 03 ~074 lo 3' nJ.20 1 7 are attacnP.<J at Annexure-,
da:e:: 16 052018
42 I: ,s stated 11 ' 1e '':!PC n pf :t>e Rcg,one.11 D·
Trar.sfere-r ' e .
., ;i
• • •
;.•No 1t1.;r2011 Rf "AtC:,1,1~'0 :2::. tltl'l"H"l°W''
-
1
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wnu:n ,~ ">t;t ,11 ;;u·c1dar,ce wltn or0111s1ons o' 11
Cc,nt,ael (P.egUJct•on\ Ru•cs 195i' (SCRP. clTlC hsbn,
(nil
l!J>il q1porI1..r IY •s ar auer,.:ll lo c ,,:.wnve: : t"r QOlir.
(r,,·) ,nc:reas,n!l Sharer,0I01ng througn P•e'arenrial alle,1
.13
pubilC. s'larotiolr• ~g ol •r,e Trar ·re.,E:e Cornp;:i~y ~ tn accord.'
prov1s1on of •he Secu,it,es Contrac- Regulation Rt.le:; "9'\7
• •y
1
' ,
Ust,ng Aa,ae,rent Wttr tr:e Stoel< Excnange. tr·e Sf:BI Acl ar •r, .s
lrarneo the.euride• SP!,C1f,r::al!y exl':Mfll the IIs1ed r;or.,oany w
E«:11a,•!/e :hrouq S.:-..e,.,e n' ;.,maigar•aton Fu11hcr r,er,ng •-.i ~i ' "" ..
RT r..A IC.•\l\li1C ,::!'I! 1t ).i,
1
( )
wnu:n ,~ ">t;t ,11 ;;u·c1dar,ce wltn or0111s1ons o' 11
Cc,nt,ael (P.egUJct•on\ Ru•cs 195i' (SCRP. clTlC hsbn,
(nil
l!J>il q1porI1..r IY •s ar auer,.:ll lo c ,,:.wnve: : t"r QOlir.
(r,,·) ,nc:reas,n!l Sharer,0I01ng througn P•e'arenrial alle,1
.13
pubilC. s'larotiolr• ~g ol •r,e Trar ·re.,E:e Cornp;:i~y ~ tn accord.'
prov1s1on of •he Secu,it,es Contrac- Regulation Rt.le:; "9'\7
• •y
1
' ,
Ust,ng Aa,ae,rent Wttr tr:e Stoel< Excnange. tr·e Sf:BI Acl ar •r, .s
lrarneo the.euride• SP!,C1f,r::al!y exl':Mfll the IIs1ed r;or.,oany w
E«:11a,•!/e :hrouq S.:-..e,.,e n' ;.,maigar•aton Fu11hcr r,er,ng •-.i ~i ' "" ..
RT r..A IC.•\l\li1C ,::!'I! 1t ).i,
\ • •
\ \
thmugh Srr,e,r,e 11r Arr:iIga"lation coes no\ mean l"a· ''le rr
t'1e Pre'~c 1!._ ·I _s-,t {. de," ''-""<!' ICOR
! ~rnco Co1m~a, ,,,, Peu,ono's con•.cndeei um• '
oe>e:; 1101 v1ola!o. 1r ar.y marn•Jt. the l..,st,ng AgreeIT>enl ar. •,1
Regulahons II was furtr-.er i:1.,0:n,t'e<:l that lhe Pet1:1oners arc ntJt ,. ,
E<lief'1Pt,on or •elaxauor· o:ner..v1i;e than wr,at ;; t>e"1wssible
45 ~-
otter Refef!!l'K.." w·ds ars.i Flade to Rr guttittr.,n 10 of Senrn es ,1fl'
Board of l'ld1a (S1,tismntial Acquts:l·on of St-ares and
Regulat,ons. 2011 .n extenSo
When the maaer was 11sted on 12 1 O 2015 belo'.•
K,9t1 Coori .. • 1>81> oosi;rverJ !.he! r the r--ase n hard •~ur Jnl ;:r
are sought to be rrtergec ,r a hs•eri corr.pany , 0 r"t,uorer 11;,-. •
~harehotd,.,g,
P'IC- '" :Ct• .JT )Al\...~,,11'1·,. 1?bf"h1'•1ry.
t
,.
•
l J. - I ..
22
t•o,r JIJ 04 • Fi..,:- • Ji-[ 1, c• t ,f! Secur ttP, r.onciac.ts tRe,1.
,•~57 PfOvrJe:. ,r , r\1c.rv ,.:.tP.J tcr").S,...,. 1s to 11a,,..1am ;::Jbh'"'
of at ie.is: 25"· Lt,&"eC cou~sel IOf tne pet,!!on;.:r s<n.sht :;, •• ,
per RulL 19A(2l c,f tr-c a!oresil e Rules ,,, case the pu!!lit: snw -., I,
lisuld C:Oll'lpan\ fall, below 25% on1: fM' s t,r.,e s gre,ted torr
J lS
a
As to vAiNher tr. court shoL1d a;,pm11c a serer.,!! of rrert', ,
I reouct1<lp r i:: ;b! c st-;,,reho1dmgs at .:: 11sceo rompf!riy oelcw •to• .,
reau•red~"Ctlr ,he Rules, 1~ t:ie i:west,r.., to be cons•derea Tho'
CCNrt a10 mf;d •:-ie tr-.:it:C-1' to <i;l 1 1 2015, Tne HIJn l}le l-'19t1 '
observe, ,n tr or~, r datnd 1 • ll'.120' f, that des.,.:.- tt,e O!,llr,;i,
,, :h.-.re "''"'J '10 r .. o•a<;P"lt.alJOr l'"·esh "0Lce to SEBI ,1r.,s c,rec1erJ r
for 23 0,.2016 Trtr. Hon'bfo llig/1 Court observed 1r thtl
29.07 20r \r,cll C1C50•tC SC"VIC'! l1 SEAi tne;e 1-,as Still no rP.5i,,1
seems that SEBI has no rep,ese."ltat•on 10 mM" tlul at the sar,t ,,-('
of L~e cor1deroc view that C-,e pelllicner companies ar>d o
Tr;insro,,' CO!T';l:C'ly shall l\ave always 10 comply ,.i\n tnf
Regulate rrarrad lhereundnr tt,e circ1Ji~rs s~ued •mm Ur"~ t
the Sch
Ar-0L 1er obsen,a~or l"ade by the Regior:a' Dire
1 the .ippoin:ed d;:;'e ~ ~ ·-" s:.11er1 as 1o1 Auril 2l
all me Pel! loner Co'Tlran,es t1Mf' riled Ba,;lnce St1eel!o as rn
:?O 14 Tt,er tore L'IP PE',uo,-.er na, e, .~er sr ,ft ,ts ap;:m,,.,1oc 1 , ,
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r rospo11se :o cbove P1ent1or,ed Ollsel'\ at""
ree>i.ed tra' ~,c Aooo,rted tla'.e ,., ••· A?nl. 20· 3 on t"e bas,~
Schernc has been drartc.>d wa~ also o!::.:ecl before lt'C SESI tc.· ~·
MerOJy because, ,.,u ... ,._ • ;ferc" ::crrpan es 'lase fifca tre Ba J"t
49 l ".amc< ':Dll'l!.Cl, 'or Pct,11u11i:ri; stated that t·
Compan•e:, na~t: no 11b1c::1.or on rnodir.ca:ion of the Appc I'll• •
A::iri' 20,J, c,r c1~y otrer date as rna., oe deem f' by 11, s Hon b
Q~~w of ll 1 ":,o-,e s• 1b=sS1oni; a:id to remove tl1e oto,ec'Jons ~.
Reg•cnal t,rec•o w;: .~ou'!! !'l,r1:'-1 tl"a: tl1e aooo·nted da:e ,n ·•
wouic! be ~ ~ .-r, 1-
1
50 Fr:w1 \i,c (, 1~,nr;1o1k o' ri, j1'ill1!10n>'f C~'11par1,es ti
Trar•s•eror porip,n)' Nr 2 and 4 IP'?. 11nd P-4) as wolf as tt,
CoMpany rero loss '""n~.'lg r:ornnan,c[I wllfl'03& T ru'ls:ao,
Nos I and·!:! ar!" re111ng prof,! n,e lc.iro,L·d counst:I fc,, 11•
submitted ~at L'l,;i companies are no•. enwec to adJust tt;c le
comoan,es vncrer tho scncme I
'i1 Wli1m Ira 'Tlatlor w.~s ~!N1 tJr; 2/l 11 21l1'i ll••lo,
a1,hP111 •. r(!Spors, ·o tne Rc;:1nrial r,,,e,:::or tr> resoect 01 lh~
Arrange,rerll. ""..P ~ ,.,1 r, 'ti Sf• CA CM.ti(. ;:,r.-- ~ ,
I,
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1 tl r> I'"-' I L '' I
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11
52 ~r ·e.:··.11 o' •es:xlrsi: 1r,::,m :~v ll"c)~.E Tax 0-:,r,arlmer, • • ,, I
Kuma, Br:ol.i 1t1 RP.g,onal Director Min,suy of Corpo:ate A",, 11
aad,11ora: .J/71,:,, v,1 -t11tec" 0"3 1'1.2016 ,:ated l'.lal ii nes receIvM, II
27 ~1 29.1s. f•o!Y' lh0c Pr Comm·ss1one of tncorr .. Ta,. Delhi-•
and thel(cbse, ,;nons made were cc:omc ,n oara 4 c1f Reg,:in,
repar; N Ich 1s reproouceo hereunder-
53
I
I 'Tha: r-15 of11ce h"1s no obJection to 1he prooosed ~
I ama,q.3ina:1c:ri of the above-ment,onod T,ansfi>rnr c,-,. ,~· •
/ \1h l•Asl•£·•i lr'orec. L•'ll1li>fl PAN AA"'CS')CJ75C ,
I !i)S•s·m lh<' foll~•,,mg den-,_no ·.s outs:arcir,q aciains: 11 ( •
c:o~,p,m,. 1" M/s Aashee lrroter;," Llmnecr
'
Amount Nalu•
Oen ,
-2003-04 ___ -4-~-.0'"'5,.,5,--·--u,s •.i
38.050
relation to lhe Income Tax c.utsta.-.d1rg <Jr
Transfera Cornpa,w Learned Cour,sel fnr Petitioners ur" ,
T ra11st<-.rel ,;;.o,,,c,ativ 'h :j1r-.,E1dy oa o ih.,- aloresa,<l deri,a
:. rot ''le suOJect matto:1 of d1sso,~tror1
., rJ
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11 ts run~er sr:iied Iha! ttwre Me no prosecu1,,~
peno,ng ar.a1nsl the Transf1?ror Cornparnes & Transferee Com...ar
19::;6 FEMA ,;:,i; SE"B Acl, ~81 Act otc
55 .,. ,e 1e,,TT'~ --our ,el !or I tie r,e111ic,ners also r,c I r
J .... >
aff,ca\1t dated '4 10 2c•, of tr,e au:nor zed •eoresen!Atlve ot 1-, • ,:i
56 In v:ew of the abcwe. tne•e 1s oo ,rnoecaiient r:, s
Scheme 1 he Screrne or Arra:-igeme'l! 1,1,hict- is a'.tachec wilh tr<> ,
Reg,onal Director as ;;: poge .;.34 'l! the p,1per book •s ao!'lr~
approving 11e ·s-:tinlT'e as atiove. 11 ,s ::Ian• ea that rnis oroer
con~lrued as ,.., o•der n any wav ~rar•t,ng dxer'1pt10M fro,,, pal"""'
s1arq1 ouiy 111,~ or nny other c:nan;cs 11 .. .-,y ,incl payment ; •
with law or 111 respect o! ar-y P!Jrnvss1on,~.on1pllanr.e ~r,11
reuurremP.!11 w•11cb rPay bo ',Pc ,,r1c2II:,, requ,red unocr ,J'll/ • ~
sanct10I' o! Sct1em>.1. .he T ransleror Compan,es No 1 lo ~
d,ssolv,.c witncut being wtiund up resuu,rig In lncniase In th~,, , •
tre T rars!eree Com;,anv
ANO THIS TRi!:IUNAL DO FURTHER ORDER:
""ti,,1 •'1e Appt11rl0(1 '1;;:e tcr tr.e pur~00s@ of 11·,e Sc ,
'flW- •••c,-.,, '-;1 :A (CA,\;?-.-,.,'"}. I~ ... • ., ,.
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'"hat all l"e prcperty r.ghts al'Jc power; of I' r I tr
,. _..,oa:,, <s t>c ,nr,:;.ferred ,Vilhout rurther act n, , 9
""r.;i-sf<?r<',;;-Co,nc,an, and accordingly !lie samP. _., ·1t
tn S1icIior, :>30-2J~ o• thn Act, 'le trar ;terred to a ' '1
..,ow atfee11r:~ trl:' samA ard
-mi1 a11 •ne ,iabiI,I1es ,i,;c duties of t~,e TriJns!N"'
tm lrc>ns!P.r•eJ wllll•JIJI f ,1her act or deed to ti
Th;i1 an U.r en,ptoye,,s or the Transfaror-Co,n,
tro1r,sff.irrco 10 ! 1e Transferee-Company 1n
Scl•erre and
n :;,• a!I proceedings net.v pe..,o,:,g by or ar;;;,r.s
e
e
Cc"1p.;,ue!; oe ~ ?f't1nu<?d by or ana1ns1 I f• '""""
,.ompar,y anr.
T'1Jf •ne T·ar,s'~·ce--Co1r,1,a 1y do w1lhour ft.rt •
&an! Scheme, anc
s
ire
~ t.o , r, O' a,, .. Ri CA t,:AA,•tO l1'.t1, ............ f-..,
J
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l'
T'1at .,.,e fee ,f a,,y paid by the Trarisle:or-Cc,r
auu,onze.d cao :a: srall be s,.: o!" a1;a1nst a,;~· 'e,
,~e lran,feree-c,,,,.,p.,r.es on its aut'IOrized ca;,-
,- :he s,in~10-: of it e Sd'emc a,.c
s
'/
~emc:,tir" l,:;r 'E'~;)~ ve complrance <'.S per SE. - ,r
.,:·,f'r.-,,se tr.a.,'"" at s 0em,1sst:11e ,n t"ie SEBI R,
SfB ~e,iulatJons po,t sanction ot tne Sc.-er,e •
, I rer;e,pt of lhis orae-. cause a certified coov oi •
":>cumeNs re.atrng :o lhf" Trans~eror Corr.pan,e5
w,:,. rim on the f,le ke;,t ,~ reiat1on to the Tra,;sf,
C,,)rrpa-11es snail be cor soi:dated eccord1~1y a .
.,.t-i.:it the r,ans'e•ee Co~!:lartv shall deoos1t
,nc..:io0 ·Pup,,.-.,; s,~tv Thousc'ld only) .v·
l 11 ,lnmor ard f.iO.,oo - tF.upec, Fo:-ty -ho1
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'a~ ,_r of n,.. cc,q:a'1y Law Tr,bul'.al e~
occ • ~r cer r.C'~ CtJi'Y of 1r1s orde.- 8'141
.. ) -.,,,t~ r tre .;t>ove rnatlcr for ariy d,rer.tJnr
[i7 As per the abo,·e <1irer.11ons n11c i=orm No CAA
1Comprom1ses A:·angerno11li; and Ama1gamauons1 ~u1 .. ,
o,cer be lsslec <Jr. tne oeti110• ers f1i1ng of the Sc.l\o<lu1e or ,
of
''18
• es
i I
l•eeho!d ::iror 0 -ty l' · 1e ,rar.;,.fcror-CoriparuO::S. and /u 1 :easc- , •1 of
s,d/-· (Pradec~ R &• II 11 Mar,-ber I r. T ~ cal
,l·Jne , 11.. 1 & ! .. ii· ~
i.•
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:- ~., ,, :.f 'ltf l:if CA 11!,V,!,N(; t:" -,r'!' ""'•·, J,
:-• .. :.: c;,.,~-=:: ···on o• uc~ue 1• n f:-,~ ,::, P' r 'J.I. (" j: ~11"" '5, . pf.,? \.. ... V f'l;J r: t: A" I
I- .. '"' .J -:J· )11 P ,i• r
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1-....::--:--"l,2 ... ' Cc~ ; 1t,_ "'Fie.::~. ~ '(I t:.,t ~-~;1• T -, t)f l _.
• • •
....
ANNEXURE No. - 1
J~uitta Global Vent,,res Ltd Transferor company N·o, 1
S-Ohed~le of Properties (11.s on :.1" March, 2017)
Particulars
PART-?
Short Description of ths I Ttansfetor com11any Fl'ee hold Properr-1 of the
I
' PART-1!
Nil
. Short Oe:scriptlon of the Lease hold Property of the Nil
Amounc (Rs,)
I Transferor Company
1------------------ l. _ __,
PART-III
c,·, ,-,-:1-:1;:ri ,·,~L'"'. C , ,. ,, i! •I • , I ! I I t ,
'";:t~ES.LTO Direclcr
t
,
Short Description of / Oebe:nture:; and other
all the Stocks, Share:., Charges In Action o! the
I Transferor Company
I {von-Cucreot tls;;cts:
I fixed Assets
Iaoaibfe As~ct:i " Comp1Jte,-s t. Ca-,. O;flce F.qu1pments d. Fum,ture and f,At'-'r-~
Intangible AS;uu Microsoft Ucen~e
I Non Current Investments I
I ~ Shares Ja:aha "'ld~!c East F!E, ~ share.s @I AfD 100000 eacn)
I Jatalla Singapore Ft~ Ltd (510000 shares • USO s1 f!ach) JDS A-iance. C,,mpany Ltd (53500 snares)
I B~trai Auto Par'.s Pvt Lta (2S00 ~hares' j Jamill! ·ncn1str1.11 ~ark Pvt Led (9990 snares) Surv~ Soft tect- ltd (250000 ,;na: •s,
I IiW'stment ir; c;ioi•;,t Contribytion: Tru'llp Ir,tocm~tlc~ LL"
I Lona Ierl'lJ...Lgilnc I Advances Jau,lla Slngapo:e l'r.e J.td s~cun:y Deposits
current Arn:q
Debtors J Ui's"curea • O,('!S!dered Good I '- "'~ir Pov,er P Ltd
II Sara Tnt1m1aliona' ".t ltd Iii. :;enius E)ectr<ca: & Electronics Pvt Ltd ,v. .:;r,m~s Export Pvt Uc
v. VL vii. l • Ii, l~~-
!nv<:ntu Cleantf'C Pvl !.t.o • Osm <>rojea~ Pr ·,ate l.lm1ted
Redhex lt Soluti;;ns ""t k"'d R;tshtJO f:: "1terpr•se.:.
G•r-Chal"' R.cflwr c-0 Pv-c Ltd Amit Pt:!lroluOl!S Pvt Ltd
1,13,819 1 72,9Yl
13,211,234 H,71,735
20,790.324 53,4:5,137 3 I
l,89 75.73 39,2s1,so2 I
nC48'.'"2 .l 5
:9248055 I il,!1950
24C•0000
3.32,765 19,3~,74'1 S,38,011 31, 73,061
198,466
128,80,900 30,266.085
j 4,01,2S0 .2,500 99,9:10 12.,s:iv
9,671
2.86, 7l9
_j
f"'"•-·,,.., __ i"\ T" I - t''l ')y L10, ~ ' • ~ -.,Ur
• --1',r .IATAUAGL~BA!.~~"!:$ Lil.).
Dill!dor ~ 9'(TO
•
/
I xi.
I xii,
Xiii.
xiv. xv.
xvi.
Balajl U,J""'" Pvl L!d R.K lmpn>(
ShreeJ• Fetrotech India Prlvatr um,ted VCRM Petrochem'cals Pr,vate L,mlte<r Shiva Tissue & FIE·xpac Ltd Shyam lndus Power So,utlm,s P Ltd
vh. \leer lnoustnes xviii Arab Fc_-i;t\uts al'\d -:!ry'ru ts ~I)(, Coco Sh:1 Rarn P Ltd
?aberTi:l lm'Oe, ){1'.
XJ<I. !, ><Ii.
l~1 B!t:J~C:1 lK Tnttr~ational Krishna •uff p Ltd
1oocooo I 530000 40950 I
so10000 I 2SOOCOO
144!<1462 669i8ll2
64652 t:;63486.75
371!8 175189
3645~! j 1/. 86,284 ~Xiii
xxlv, ~xv.
11:a~le Ay,mc:e Gi:I 19,200,000 Nlcomec Indus::r;es !.l:n.:ea ~,C4 ,975 I
1xxv1 Ans In:fa 19,388,25" I !)cvli. £:ncson C30le tnousrnl!s 10,751190 lxv'ii F,.rr f':tre•e1:.tlom:I 21,26,667 1 Jxx,i<. Glass rlou~e 9,95,396 ;xxx. Gord Morinie Pvt Ltd 22, l 5,542 p,xxl Jay Krmclyar Toughenea Gtass Pvt Lta 36,52,4S7 rxli. Longla~ INC 10,16.232 ("Iii, B~warevlrder si19h Tln"ber & Iron merchants
1:.96,90: 1,39,681 jxx!v Blrlcar E•ig,neering i:iCus P ITC
I :1t.xv. Pd1ct!i' trader~ ~wt, l'rt>llfic Gl<1sse, ;>vt Ltcl
x~vll Shree So:dJi G'.as$ C.:i . I x~viii sushlla Glass e. Plw,ood ,o;.i;e I ·.xix: (';our1shal"'I<€!" Po!ymr::r.s.
5#91,930 40,000 61,60-l I
15f19,52) A,77 8Q2 I 38,11,'l4,047
I I io.,,ent9ri.i;;; l
! 1.62.58.81'3
Short Torn, Loans & Advances ,. Margin R·ec•wable A/G
Ad,.,ance To Supp:lers
Iii. Othel'!;:
1sno11 44945098
• Mukut dhijri slngh 10000 • Siltl<ar c-,ntalncr u,es P L'.d , 17316 • ATS Esta,~ 10000000
Jain 1iite,national Trade Organisation 1100000 • ConcarPDA 384'1 • F,rs:. Har irr.c Pvt Uo 00000 • Jarz1n Cqnn, ner Ur,cs P ltd I CaOOO
Permi, Shlpp,ng Una 3022" 7 • s~tk: .. r Cor,ta111e: t ir:~ p-.,t Ltc- ~ooco
Ad'" n.:;, to <!'"'1plo~ e~·~im~:,r~f!;:'S;_! !:_A!,:/ C~ ___ .!:)~:)~2=7~5 5~---- __ __,
•,-
'
---- - - -----~-----
Bjnk Balance. Allahabad Senk, Parlidn ,ent Street Brar.d,
I Current Account No <;Q~4614542J
I l Bark ot lnma, Azadpur Branch
Currer>c Account "lo. 0oi,,201100003oti I I Induslnd Bank Chandnl Chowi< Bra ,ch
CL:rrent Account No. 259810480069
I
I
UCO 811("1 <, P;)i-Jt~,m""ro,:._ St"et:t iJra:1cn, Currerit A<.count No. !8610ZlDD0-.Z65
Il£P:O$i;.5 Witb.Jl~~ Allah·abar! Banlc, f'arHa::,e~t Stre€t Branch Account No 50246145423
'<ocak Mahlnoc;, Ban-,, >lcde: To,;;i Brar,ch Account No. 90118007'16
I Tax Deducted at Source
Other Current Assets
5,82,97 265
Nil
l,S0,42.047 94
I l,12,396.05
I
70,768
15,151.43
6,81, 27, 2.£0
12,75',049
j 4,66,391
I
. 1,56,41,cclS:...;0_--' --~----,,-----------'-For lataha Global Vent~ Ltd For ,WAi.l,\Gl.09/J.'~'fro.
~,.. I n..ecmr
Anand Parka!lh Sharma Director OIN:02233470
1 .t : :oPY
--
Lusa Private Ltd Transferor Company No. 2
Scheciule of ?roperties (As on:?:'' Ma•ch, 2017)
Particulars Amount (Rs.) r-____ PART·I
~rt Deset"iptlon of'-;-;th::ce:-:F::-r-e_e_t:-,-o""ld:-::P:--r-o_p_e_rty __ o--=r-t_h_e ______ --l
, Transferor -:ompany I Ni,
I Nil I ~, c:_.. __________ ___: __ --.
I ?ART·II
l Short Oesc ·fptlon of the Lezsc hold ?roperty of tho Tram;feror '=ompany
NA
PART-Ill
Short Oe~cription of all the Debentures ond other Chargos
I Transferar 1:ompany
1 NQ:J cuc,fflt A:;sets; I EI:xed Asset~
I Non curr.!tl)c 1nygstmeat A~r.hor held & Jndu~rrles Pvt. Lt~, '-:..:;ci e ... ldef ~.. Ltd
s~vway Ve.,tures Ltd.
S"rya Soft· Teen Ltd,
I current As,l!t:; I In11entofi1:5,
l.ru:~ Su;um~ S,ee Mari<et,ng PY:. ltd.
I :ilU2rt temt .pa,,!!' &, ,11dya~ f'1'1,~ent !l"fn;,rojeas Pvt. ctd
I / I \,
Stocks, Shares.:1· in Action of tne 1
I
"V • I •
10.~0.000
46,0C,COO I 40,00,000
llJW.ll 96,93,000
i 47,26,948
12,08,S79
S:::~~.O::.:O'..'.:,U:::;'<::.:G:......! ___ _
'
-- ~------
Mahavlr Jair Mldtia Developers & Fromat~~ Pvt. Ltd, Moooglpa lnfosystem Li:d "-arinlta investment Pvt. ltd, Rdje,h Yacav Rajsonla Consult.,nq, Services Pvt. Ltd. Satrn India Ltd. Satin Media Solutions Lto. Security wltr Desu Shllpl Communication; Pvt , Ltd, TW Memllogitals Pvt. Ltd Vljay Kumar
cash &. »ank..h.~ Cash I" Hand
Bank Balanc~ A~is Sank, A?adpt,r Branen Curr(lnt ACC•:i\.111t No 9Ff020020650527
Other eurn:int Assets Prep~!d Taxe's :.nt~rest Recnlvables
400,000 25,00,000 30,00,000
8,00.000 7,00,.000
20,00,000 7,00,000 7,00,000
200 ,. 20,00,000 20,00,000 :Z,l3,00-,2QO J._S,Q•, .ooc.
42,000 3.78.000
I
1,088
91,359
4,20,000
For Lusa Prl•sate ltd 1,;u&~vir.td
Haren.der~U!Dml!:ctcir Dir.ector
L~r:,; LllLJ!~O
Diuctor
DIN: 07197815 C I -,/ .,._~ • .-
11 I.:-,' I I ~r; ~r;py
I I
Jatalfa Industrial Park Pvt Ltd Tl'ansferor company Ne,. 3
Schedule of Properties (As on 31" Marr:h, 2017}
Particulars
PART·l ~-·· ·~~, .... , .. the Free hold Peoputy of the Transferor CTlmpany
NA I PAltT•II
Short Oescr;ptio11 o f the Lease hold Property of the Transferor C :>mpany
W· I ~
PART•UI
Short C>escript!on of all the Stocks, Shares, Debentures and other Charges in Action of the Transferor Companv
~~fl!l; r:!2r. !:;1,1rri:nt :inv!ilstmeni Aasnee lnfoteth Ltd. (60,000 i>rafercnce Shan"'.s 1 54,00,000
Asharfl Properties & Developer. (f') ltd . (5000 shan1s)25,00,000 Jatalla P>Qperrles Pvt Ltd. (12110 shares) 6,00,000
SUl"/il Soft-Te~h Ltd. (2il2000 shares) 14, io.o Others (55000 shares) -:rJ ,50,000
~s . , Loans & Adv,:nces· Shott Term
lr.s Real Escate Pvt. Ltd. 3,500,000
Amount (Rs,)
Nil
Nii
1,12,64,JO0
I Ur,kage Secur.ties Pvt. Lt<:i, 100,000 RaJesh Yadov, 2,soo,000
, Rai~onl;, c;onsu!tar>cy S~lces Pv~ Ltd . _ _____ 100,,:00:,,c0"-'-- ----'
'·· •I , '.
' 1·
. -
Siitm Med/;; Solutions ltd. Taco Con.,ultants Dvt. Lta. Tuf MetaITurgit.al Pvt, ltd UV Associates Pvt. Ltd,
Others Current Asscru Interest Rl"celva bles P-epald Taxes
Qsh & Bagk balances Casn In Hand
!lank saJ~~ 1-lDFC 6ank, Pitampura Branch Current Actounr No. 03922560001757
For .Jatatia Industrial Park Pvt Ltd t ,r
i.. 1 ...
' I I•
tar Jl!W/;JJ 1,..I,,,,,,.1 Pcrk~ttd. 1
, 1 f•r ,J~,A•:u•f,.a,
• 8Cti,r IL' '., Amit Munjal Director
OIN:077483;i.2
2,500,000 900,000
4,000,000 zso.ooo i,43,S0,000
3,91,501 I 45525 4,37,026
49,947
23, 187
11 • "~ 7V l I I .. .I I
Par~ Pv!. Ltd
Dir.ectll,
I
Surya Soft Tech Ltd Transferor Company No. 4
Schedule of Propertfcs {As c..'1 31" Merch, 2017)
1-- P21rtlculats
r · PA~T-t
Short Description of the Free Transferor Company
hold Property of the
PART·II
I Short Desc·lption of the Le;1se hold Property of the I Transferor •:ornpany
-I
PA:RT·Ill
Short Description of all the Stocks, Shares, 0ebent11res and other Ch;,rges In Action of the Transferor ,:ompany
I cur•e1Jt a~m I I ~:,h !!; fian ~ ,llalao~
l Cash In han,,
Bank eatan:~ Or:t::nt~I 8ant, of Commerce, P-itampu .. a Branen Current Account Na. 08761131003750
Amount (R.s.)
NII
Nil
27.410
13,633
For Surya Sc-ft Teoh Ltd l'orSURYASOFT-~H. LTJl.
,"·1 ,· r. ·, 1 • •1 1;: COPY \;• - : II . I '-V
. >._V-U.,."'
Pramod Ku~ar Olredllr Director OIN:07749,so
'
COMPOSITE SCHEME OF COMPROMISE AND ARRANGEMENT
BETWEEN
AASHEE INFOTECH LIMITED
AND
JATALIA GLOBAL VENTURE!= L!MITED
ANO
LUSA PRIVATE LIMITED
AND
JATALIA INDUSTRIAL PARK PRIVATE LIMITED
AND
SURYA SOFT-TECH LIMITED
AND
THEIR RESPACTIVE SHAREHOLDERS
(Under the provisions of the Section 391-394 read with the Section 100 to 104 of the Companies Act,
]956).
---
(A) PRELIMINARY
Jatalla Global Ventures limited (hereimrfter rt'ferred to as 'JGVL' or 'Transferor Co. No. l') Is" company
Incorporated under the provisions of the Companies Act, 1956 on 29"' D~y of Oecem ber 1999 under the
name of Vishaka lntotech Umited vfde certif1ca te of incorporation Issued by the Registrar of Compar,ies,
National Capital Territory of Delhi and Haryana. Toe name of company was changed to Jat,1Ua Glo!-~l
Ventures limited and fresh certificate of 1ncorporauon consequent to change of name has been lssu ... J
by Registrar of Companies; National Capital Territory of Delhi and Haryana on 18'" March, 2011 WGS
lncorpor.rted to carrv our the business of buying , selling, Importing, exporting, trading, marketing in
commodities, substances, artkles, goods, merchandise goods, things etc. The Registered office of t•e
Company is situated at ANM House, SCO, ll-12, 2•• Floor, Sector-15, Part-II, Gurgaon, Haryana-
122001. Transferor Co. No. l
Lus.a Private Limited (hereinafter referrell to a, 'LUSA' or 'Tr~nsforor Co. No. 2') is a Comp~ 'Y
Incorporated under the prov[sions of Companies Act, 1956 on l" July, 1971. to carry out the business . I
manufacturers of dealers In components for automobile ind1JStry. The Registered offrce ofth,:, Company
is situated at Jain House, 20, Geeta Market, Geeta Mandir Road, Panipat, Haryana-132103.
Jatalia Industrial P~rk Private limited (hereinafter refefl'ed to as 'JIPPL' or 'Transferor Co. No. 3') i.; a
company Incorporated under provisions of the Companies Act, 1956 on 4" April, 2007 to carry out the
business of developing of industrial parks, special Economic Zones, Industrial Estates, townshlos,
infrastructure projects, Structures etc. The Registered office of the Company Is situated at Jain Hou,·,-,
20, Geera Market, Geeta Mandir Road, Panip.!t, Haryana-132103.
Surya Soft-tec:h Limited (hereinafter referred to as 'Surya' pr 'Transferor Co. No. 4') is a compa"y
incorporated under the provisions of the Companies Act, 1956 on 19"' November, 1999 to carry out the
business of designing developing, marketing, selling & distribution, Licensing or computer software and
programmes for educational, commercial and Industrial use. The Registered office of the Company is
situated at Ideal House, Plot No. 2, Oaultab~d Road, Gurgaon, Haryana-122002.
A:ishee Jnfotech Limited (hereinafter referred to as 'Aashce' or 'Transferee Company') Is a company
Incorporated underthe provisions of the companies Act, 1956 on 3rd Day of September 1987 w,tt> Hie
name of S.R. Oil and Fats limited vid~ c.~rtlficate of incorporation lssu~d by the Registrar nf Companies,
Na-tional Capital Temrory of oelt,f and Haryana a:'1d the object clause has been changed to carry out the
business of information technology, software development, Internet and all ac:tivit' . nctllary and (-OTf,..
i11ciclentai to it from the busine-ss of manufar111rlng of crude oil and extraction L~=· .,:;y ''et ar.lLcil, '"-' ...
• -~'-- · __ ..,.._,.. '"'"- l"'rtwirnn,·Htiaci li1ci0- rirP hr;ir, mustard C • _(.!. - O'.\ t
-½ '3(--
palm seeds etc . The name of company was changed to Aashee lnfotech Um,ted and fresh certifieate of
incorporation consequent to change of name has been issued by Registrar of Companie,, National
Capital Territory of nelhi and Haryana on 15th day of November, 2007. The Registered office of t' c
Company ls situated at ANM House, SCO, ll-12, 2"" Floor, Sector-ls, Part-II, Gurgao11, Haryar. .. -122001.
This Composite Scheme of Arrangement ( is presented under the provisions of Section 391 to
394 read with section 100 to 104 and other applicable provisions of Companies Act 1956 for:
A. Reorganization of share capital of Transferee Company by way of adjustment of Its
e~isting losses against its paid up eQuily capital as appearing of the books of accounts of
the transferee company as on Appointed Date 1 and thereby reducing the capital of
Transferee Company; and
B. Merger of Transferor Company No. l to Transferor Company. 4 with Transferee
Company and also reorganization of eqully paid up share capital of Tr:.nsferee
Company post merger by way of adjustment of losses of the Transferee Company as
on Appointed Date 2 against the paid up equity s1,are capital in terms of the provisions
as contained in the Scheme.
This Scheme also provides for various other matters consequential or otherwise Integrally
connected therewith,
(BJ RATIONAL FOR THE SCHEME
The overriding objective of the Scheme Is to combine some of the existing varied b\lsinesses with
an objective 10 rals~ overall profit growth. CQmblning rhe Transferor and Transferee Companies
will achieve profit growth In their respective business segments which is growing faster and
which can grow faster 1n the future, benefittlng f'rom the scale of enlarged group aflowlng the
group to achieve strategic goals by exploring greater business focus and opportunities 111 otller
areas, and to be able to effectively tak~ adv;;ntage of the strategic position of rhe erllllles ilwo1ved
and to provide synergy in operations and economic and cost effective services.
The above will result In greater efficiency in cash management of the amalgamating entities and
unfettered access to cash f low generated by the consolfdated business Which can be deployed
to fund organic and inorganic grow1h opponunlrles.
In addition to the above, this Scheme would benefit the respective companies on account of the
following reasons,
( .. [ a) Aashee lnforech Llmlted /Transferee Company) and Surya Soft-tech Umfted (Transferor
company no. 4) has huge accumulated losses and the major capital has been eroded.
b) Aashee lnfotech Limited (Transferee Company) has now beeume profit making company.
Jatar.a Global Ventures Limited (Transferor company no. 1) is profit making company and Is
expected to grow fast in future. Lusa Private limited (Transferor company no. 2), Jatalia
Industrial Park Private Limited /Transferor company no. 3) and Surya Soft-tech Limited
(Transferor company no, 4) are not having any bu.sines~ activities and no fixed assets, The
Scheme seeks to reconstruct the issued, subscribed and paid up capital of the Transferee
Company and merge the business with all the assets and liabilities of the Transferor
companies Into Transferee Company. 1 E.,
c) The amalgJmation will give the consolldated companies better finances, facilitate adequate
resource mobiliiation to sustain growth;
d) Strengthening and consollda ting the position of the companies and enabling them post
amalgamation to participate more vigorously and profitably 1n an lncreaslngly competitive
and llberallzetJ market,
e) Enabling better leverage of racllitles, Infrastructure and human resources and for better
administration;
f) Augmenting and strengtJ1enlng core businesses of the amalgamated companres resulting in
enhancement of the shareholders' value;
g) Simplilkabon of tne structure of holdings In the companies and to have better focus on
e;rnwth and value creation for the stakeholders:
h) Enabling the amalgamated er1tities to raise fun&.. from the financial instltullons an better
terms. The synergy of rhc amalgamatlan will Improve operational efficiency, Integrated
management functioning and WIii enhance the sha1., value for the benefit of shareholders
of the existing entitie~;
i) The amalgamation will result in reduction of overheads, administrative, managerial ~nd
other expenditure, and bring about operattonal rationalltat1on, organizatJonal efficiency,
and optimal 11tilizatlon of v~rious re~our~s:
J) The amalgamation will avo,d duplication of administrative functions and eliminate multiple
record-keeping;
k) The said scheme of arrangement Is beneficial ta the companies, their shareholders,
creditors, employees and all concerned and will enable these companies to achieve dnd
fulfln thcl1 objectives more efficiently and economlc;,lly;
I} The value of the shares of the combined entities shall enhance the $hareholders value by
becoming a part of a stronger operating entity, rationalization of Inter-company
transactions etc; and
(C) PARTS OF THE SCHEME
The composite scheme of Arrangement and Amalgamation Is divided Into following parts:
(I) PART I deal~ with definitions and share capital;
(Ii) PA.RT II-A deals with Re-organl2a11on of equity paid up share capital ofTransforee
Company;
(Ill) PART II - B Merger of Transferor Company No.1 to Transferor Company No. ,1 with
Transferee Company and reorganiz:ation of paid up equity capital of Transferee
company post Merger;
(iv) PART Ill deals with General terms and conditions applicable to this scheme.
~ --
PARTI
1. DEFINATIONS
In this Scheme (as defined hereunder), unless inconsistent with the subject or context, the foltowing
expression shall have the following meaning:
1.1 "ACT' or "THE Act" means·the Companies Act 1956, or any statutory modification or re ·
enactment thereof for che time being in force;
1.2 "Accounting Period" means the period of twelve months comrnendng on the l" day of April
every calendar year and ending on the 31 '' day of March of subsequent calendar year.
1,3 "Appointed Date 1•: "Appointed Date l would mean 31st day ol March, 2013 or such other
dote as may be fixed or approved by the High Court or Such other Competent authority for
reorganization of equity share capital ofTra nsferee Company
1,4 "Appointed Date 2": "Appointed 0ate 2 would mean 1st day of April, 2013 or such other
date a~ may be fixed or approved by the High CO<Jrt or Such other Competent authority for
Merger and reorganization of equity ~hare capital.
15 "Court• or "High Court" means the tifgh Court of Judicature of Haryana and Shall Include
National Company Law Tribunal , if and when applicable;
1.6 "Merg-cr Record Date'' means in respect of Merger or JATAUA GLOBAL VENTURES
LIMITED ( JGVL), LUSA PRIVATE LIMITTD(LUSA}, JATALIA INDUSTRIAL PARK PRIVATE
LIMITED( JIPPL), SURYA SOFT·TfCH LIMITED (SURYA) wll'h AASHEE INFOTECH LIMITED
(Aashee); the dare to be fixed by Board of Directors of Aashee for the purpose of issue and
allotment Of equity shares by Aashee to the [q ufty shareholders of JGVL, lUSA,
JIPP!,,SURYA( Except 10 the extent of share held by shareholders of JGV~. LUSA,JIPPL, SURYA
or one of these In Aashee
1.7 "Effective Date• means thP l~tf'r date on which ccrtifi'ed copy of order sancrionfng the
scheme passed by Lile High Co1Jrt or other competent authority, es n,ay be applicable filed
of Hary;,na or this Scheme with such modifaction(s), if any made as per dause_ of the
scheme;
All tenns and words not defined in this scheme shall, unless repu_gnant or contrary to the
Context orme,ining thereof, havP the same meaning as prescribed to them under the Act,
the Secunt,es Contract Regulation Act, 1956, the Depositarles Act 1996 and other applicable
rules, regulations, Bye laws as the case may be or anv statutory modlficacioris or re·
enactment thereof from time to time.
2. DATE OF TAKING EFFECT ANO OPERATIVE DATE
The Scheme set out herein In l ts present form or with any modification(s) approved Imposed or
dire~ted by the High Court of judicatwe of Haryana, shall be effective from respective
Appointed Date but shall be OpcraUve from the Effective Date.
3. SHARE CAPITAL
3.1 The Authorised, Issued, Subscribed and paid-up share capital of" Aashee• or "Transferee
Company# as on the date of presentation of Scheme are a~ und1!r:
. Particulars 2013
Share capital
Authorized
38,50,000 Equity Shares of Rs. 10 Each 38,500,000
1,50,000 10% Redeemable Preference Share 1,500,000
40,000,000
Issued, Subscribed & Paid U!!
37,051720 Equity Shares of Rs. 10 Each 37,057,'200
Add: Share Forteite·d 572660
1,501000 10% Redeemable Preference Share of Rs. 10/· 1,500,000
each
39,129,860
3.2 The Authoriied, Issued, Subscribed and paid-up share capital of' JGVL" or "Transferor Company
No, l • as on the date of presentation of Scheme are as under:
Particulars 2013
Share Capital
Authorised
1,00,00,000 Equity Shares or Rs. 5/- each 50,000,000
50,000,000 Issued
73,37,470 Equity Shares of Rs. 5/· each 36,687,350
36,687,350
Subscribed & Fully Paid Up
73,37,470 Equity Shares of Rs, 5/· each 36,687,350
36,687,350
3.3 Th~ Authorised, Issued, Subscribed and Paid UP Capital of "LUSA" or "The Tr.>nsferor
Company No. 2" as on the date of presentation of Scheme are as under:
- Particulars 2013
Share Capital
Authorised capftal 33700 Equlry Share, (Jf Rs 100/ - ea<;h 33,70,000
3370000
~ 3361000
33610 Equity Shares of Rs 100/ - each 3361000
Subscribed and Fully Paid up
33,610 Equity Shares of Rs 100/- each 33,61.000
33,61,000
3.4 T11e Authorised, Issued, Subscribed and Paid up Capital of "JIPPL" or "The Transferor
Company No. 3" as on the date of presentation of Scheme are as under:
Particulars 2013
Share Capital
Authorised Capital 500000 Equity Shares of Rs 10 each s0.00.000
50,00,000
Issued
344500 Equity Shares or Rs JO Pach 34,45,000
3445000
Subscribed and Fully Paid up
344500 Equity Shares of Rs 10 each 3445000
3445000
3.5 The Aurhorlseu, Issued, Subscribed and Paid u~ Capital o f "Surya• or "Transferor company
4" as on 3111 march 2012 are as under:
Particular~ 2013
Share Capital
Authorised Capital
30,00,000 Equity Shares of Rs 10/· each 3,00,00,000
- ..,.,. •- '"'"'A
,;';R .. ~,y<-u., HARYANA :t: -:s:, ....
I fl _..",•
Issued Capital 2,90,S7,000
29,05, 700 Equity Shares o f Rs 10 each 2,90,57,000
Subscribed and Paid ue Cael ta l 2,90,S7,000 29,05, 700 Equity Shares o f Rs 10 each
2,90,57,000
,
Part-II
4. REORGANISATION ANO REDUCTION OF THE EQU ITY SHARE CAPITAL OF TRANSFEREE COMPANY
<1.1 On the effective date and after securing necessary approvals and permissions. rhe
accumulated losses of Rs. 3,39,78,151/· (Three Crores Thirty Nine Lacs Seventy Eight
Thousand one Hundered and Fifty one only) 9f TraMferee Company as on Appointed
Date No. 1 ls sought to be set off against the paid up capital of the Transferee
Company.
4.2 As an integral part of this Scheme and upon Coming Into effect of the Scheme the
issued, Subscribed, .and paid up share capital of the compar,y shall be redu~d by
cancelling a sum of Rs. 9.00 from every paid up share capital of Rs. 1/J/· of and
thereafterconsolidating into Equity Shares of Rs. 10/-each as fully paid up capital in the
Aashee.
4.3 As a Result of Re(:luction the Subscribed paid up capital of the Transferee Company shall
be stand reduced from 3,91,29,860 (Three Crore Nlnty One Lac Twenty nine thousand
eight hundred sixty ) divide(:! Into 37,05,720 (Thirty Seven lacs Five Thousand Seven
Hundred Twenty Equity share llf Rs. 10/-) fully paid up and 150000 10% Redeemable
Preference Shares of Rs. 10 each fully paid up to Rs. 52,05,720 (Fifty Two lacs Five
Thousand Seven Hundred Twenty only) divided Into 370572 Equity shares of Rs. 10/
each fully paid up and 150000 10¾ Redeemable Preference Shares of Rs. 10/· each fully
paid up.
4.4 The reduction of the share capital account as aforesaid shall be effected as an integral
4.5
part of thl~ ,~heme lt:self os the :.a.me doP.·$ not involve either diminution of liability in
respect of unpaid sharp capital or payment to any sharetiolder of any paid up share
capital and the order of the court sanctioning the schtrne shall be deemed co be- due
compliance Of provisions of Section 78, 100-104 of the Companjes Act, 1956 an order
under Section 102 of the Act collfirmins the Capital Reduction.
In case of any equity shareholder's holding in Aashee, is such that the shar~~ t<.:'.: ~,y ' .. -v~,,.
become entit,ed, pursuant to clause 4.3 above, to a fraction of equilv.;;~har o.f, ·'.;; fflf\.u( ~ •1:.':·~' ,."'.t>
I\ ·i,<I-'""' -::,
Transferee Company , Transferee Company shall round off the said entitlement to the
nearest integer and allot equity shares a~cordlngly.
4.6 The Capital Structure of the Transferee Company ::iefore and Immediately after
Appointed Date 1 will be a, under:-
Before Reorganisation of After Reorganisation
Capital of capital Authorised Capital - Equity Share capital 3,85,00,000.00 3,8S,00,000.00
Preference Share capital 15,00,000.00 15,00,000.00 TOTAL 4,00,00,000,00 4,00,00,000.00
Pa,d up Equity Share Capital 3.70,57,200.00 37,05, 720.00
Paid up Preff!rence Share Capital 15,00,000.00 15,00,000.00 Shares Forfeited Account 5, 72,660.00 5,72,660.00
TOTAL 3,91,29,860.00 57,78,380.00
Securi1ies Premium 1,21,30,000.00 1,21,30,000.00
Investment Allowance Reserve 6,13,052.00 0.00 Other Re·serves -3,39,78,151.00 -13619,00
Total Capital & Reserves l,78,94,761.00 1, 78,94, 761,.00
--
S. REORGANISATION AND REDUCTION OF THE EQUITY SHARE CAPITAL OF TRANSFEROR COMPANY
NO. 4 (SURYA son.TECH LIMITED)
S.l On the effective dare and after securing necessary approvals and permissions, the
accumula~d losses of Rs 2,92,20,036/· (Rupees Two Crores Ninety Two Lacs Twenty
Thousand and Thirty Six only) of Transferor Company No. 4 as on Appointed Date No.1
is sought to bese t off against the paid up Ci'Pital of the Transferor Company No. 4
5.2 As an Integral part or this Scheme and upon Coming Into effect of the Scheme the
Issued, Subscribed, and paid up share capita I of the company shall be reduced by
cancelling a sum of Rs. 9.80 from every paid up share capital of Rs. 10/· of and
thereafter consolidating Into Equity Shares of Rs. 10/· each as fully paid up capital in the
Transferor Company No. 4.
5.3 As a Result of Reduction the Subscribed paid up capital of the Transferor Company No. 4
shall be stand reduced from 2,90,57,000 (Two Crores Ninely Lac Fifty Seven thousand)
divided into 29,05,700 (Twenty Nine Lacs Five Thousand Seven Hundred Equity share of
Rs. 10/· ) fully paid up to Rs. 5,81,140 !Rupees Fiv<? Lacs Eighty One Thousand One
Hundred and Fourty only) divided Into 58114 Equity shares of Rs. 10/· each fully paid
up.
5.4 The reduction of the share capit.al account as aforesaid shall be effected as an integral
part of this scheme itself as the same does not involve either diminution o f liability In
respect of unpaid share capital or payment to any shareholder of any paid up share
capital and the order of the court sanctioning the scheme shall be deemed to be due
compliance or provisions of Section 78, ~00-104 of the Companie• Act, 1956 on order
under Section 102 of the Act confirming; the Capital Reduction.
5.5 In case of any ettulty shareholders lloidfng In Transferor Company No. 4, IS such that
the shareholders become entitled, pursuant to clause 5.3 above, to a fraction of equity
share of Transferor Company No. 4, Transferor Company No. 4 shall round off the said
ent1tlementtothe nearest integer and allot equity shares accordingly.
5.6 The Capital Structure of the Transferor Company No. 4, before and immediately after
Appointed Date 1 will be as under:-
Before Reorg,misation of After Reorganisation
capital of capital
Authorised Capital - Equity Share Capital 3,00,00,000.00 3,00,00,000.00
TOTAL 3,00,00,000.00 3,00,00,000.00
Pald up Equity Stiare caottal 2,90,57,000.00 5,81,140,00
TOTAL 2,90,57,000.00 5,81,140.00
Reserves & Surplus -2.92,20,036.00 -7,44,176.00
Total Paid up Capital & R~seriles ·1,63,036.00 ·1,63,036.00
6. AMALGAMATION OF If!ANSFEROR COMPANY 1110. 1 TO TRANSFEROR COMPANY NO. 4 WITH
TRANSFEREE COMPANY
TRANSFER ANO VESTING OF UNOERTAKING(S):
6.1 Upon coming into effect of this Scheme and with effect from Appointed Date 2 the entire
business and whole al· Transferor Company NO. 1, Transferor Company No. 2, Transferor
Company No. 3, Transferor Company No. 4, as going concern incl1Jding all assets (weather
movable or immovable, real or personal, €orporeal or incorporeal, present future or
contingent, tangible or intangible including trademark, Intellectual property rights,
copyright etc J propertie, and liabilities of JGVL, LUSA, JIPPL, SURYA, shall pursuant to the
provisions contained under section 391 to 394 and all othe.r applfcable provisions, if any.of
the act and without any "further act or deed shall stand transferred to and vested in and/ or
be deemed to be transferred to and vest ln Aashee all rights, t1tle interest pertaining to
JGVL, LUSA, J IP Pl, SURYA.
6.;l With effect from Appoihted Date 2, a II debts, liabilities, contingent ifabifities, duties and
obligation or every kind, Nature and descrtprion of JGVL, LUSA, JIPPL, SURYA shall also,
under the provisions of Section 391 to 394 and ail other applicable prov[sions, If any of the
Act, and wirhout any rurtheract or deed, be transferred to or be deemed to be transforred
to Aashce, so as to become from the appointed date the debts, llabllltles, contingent
liabilities, duties and obligations of Aashee and It shall not be necessary to obtain the
consent of any third partv o.r other person who Is oarrv to anv contract or arran~ement bv
virtue of which such debts, liabilities contingent Habllities, duties and obligation have
arisen in order to give effect to the provision of this sub- clause.
6.3 With effec;t from the Appointed Date 2 and upon the scheme trecoming effective, ,my
statutory licens,:s, permissions or approvals or consents relating 10 and or held by JGVl,
LU.SA, JIPPL, SURYA to carry on there respective businesses shall vested In or transferred to
Aashee without any further act or deed, and sh3l! be appropriately mutated by the
statutory authorllles concerned tJ1erewltn In favour of Aashee. The benefit of all Statutory
and regulatory permissions, registration or other licenses , and conse11ts shall v.est in and
become available to Aashee pursuanr to the scheme. In so far as the various lncen~~\
u!lr:1'}.._ ~£\
local authority or tiy any other person, or enjoyed and availed by JGVL, LUSA, JIPPL, SURYA
are concerned, the same shall vest with and be available to Aashee on the same terms and
conditions.
6.4 All the existing .iecurities, mortgages, charges, encumbrances or lines. if any as on the
Appointed Date and those created by JGVL, LUSA, JIPPL, SURYA after the Appointed Date 2
over the AS$ets of JGVL, LUSA, JJPPL, SURY/1 lransferred to Aashee shall, after lhe Effective
D.ate, continue to relate and anach to such ~ssets or any part thereof to which the•/ are
rel;itcd or attached prior to Effective Date. Such securities, mortgages. charges,
encumbrances or lines shall not relate or attach or extent to any other assets of Aashee.
6.5 With effect from the Appointed Date 2 and upon the Se-heme becoming effective, the
immovable properties, II any, standing IA the books of the Transferor Companies (JGVL,
LUSA, JIPPL, SURYA) and any documents of title/rights and easements In relatlon thereto
shall be vested In and transferred to and/or be deemed ro have been vested io and
transferred to Transferee Company and shall belong to the Transferee Company. The
mutation of the title to the Immovable properties shall be ma·de and duly r-ecordcd by the
appropriate authorities pursuant to the sanction of the Scheme and upon the Scheme
becoming effective, in accordance with the terms hereof, In favour of Transferee Company
Any Inchoate title or possessory tltie of the Transferor Companies shall be deemed to be
the ti tle ofl'ransferee Company.
6.6 In accordance with the Modvat / Cenvat Credit Rules framed under the Central Excise Act,
1944, as are prevalent on the Effective Date, the unutlllzed credits relating to excise duties
paid on Inputs / capital goods lying to the account of JGVL, LUSA, JIPPL, SURYA shall be
permitted to be transferred to the credit of Aashee, as If all such unutilized credits were
lying to the account of fran,feree Company. Tran~r.:ree CQmpany shall accordingly he
entitled to set off-all such unutillud credits against the excise duty payable by It.
li,7 The A111horised Capital of the rransferee Company si1.all increase by Ks.i,50,00,000/
(Ru~ee-s Six Crores and Fifty Lacs only) divided into 25,00,000 {Si~ty Five lucs) Equ ity Shares
d ~' of Rs. 10/- (Rupees Ten only) each. ~)
6.8 The Capital Structure of the merged entlty Le Transferee Company before and
immediately after Appointed Date 2 will be as under:-
Before Reorganisation After Reorganisation of of Capital Capital
Authorised Capital - Etw1tv 3,85,00,000.00 15,18,70,000.00
Preference Share Capita l 15,00,000.00 15,00,000.00
TOTAL 4,00,00,000.00 15,33,70,000.00
Paid up Eouity Share Capital 37,05,720.00 14,97,56,530.00
Paid uo Preference Share Capital 15,00,000.00 15,00,000.00
Shares Forfeited Account 5, 72,660.00 5,72,660.00
Total Share Capital 57,78,380.00 15,18,29,190.00
Securities Premium 1,21.30,000.00 3,27,80,210.00
Investment Allowance Reserve 0.00 0.00
Other Reserves -13619.00 2,00, 78,178.00
Total Reserves 1,21,16,381.00 5,28,58,388.00
TOTAL CAPITAL & RESERVES 1,78,94,761.00 20,46,87,578.00
7. ISSUE OF-SHARES BY AASHEE INFOTI:CH LIMITED (Transferee Company)
7,1 Pursuant to the scheme coming into and upon the entire businesses of the JG\/L, LUSA,
JIPPl, SURYA transferred to and vested in Aashee, Aashee shall Issue and allot to the
shareholders of JGVL, LUSA, JIPPL, SURYA other then shares of Aashee, whose name
appear in the Registrar of members on the Merger Record Date or to their respective
heirs, e~er.utors, administrators or other legal representatives or the successors-in-titre,
as the case may be, in following manner:
Shareholders of Transferor Company 13 Shares of Transferee Company (Merged
No 1 (JGVL) Entity) for 10 Shares
Sha re holders of Transferor Company 91 Shares of Transferee Company (Merged
No. 2 (LUSA) Entity) for 1 Share
Shareholders of Transferor Company 6 Shares of Transferee Company (Merged
No. 3 (J IPPL) Entity) for 1 Share
Shareholders of Transferor Company 100 Shares of T ransferee Company
No. 4 (SURYA) (Merged Entity) to Each Shareholder
except merging companies
7.2 In case at any .equity shareholder's holding In JGVL, LUSA, JIPPL, SURYA {Transferor
Company No. l to 41 is such that the shareholders become entitled, pursuant to clause
7.1 above, to a fraction of equity share of Transferee Company then Transferee
Company shall round off the said entitlement to the nearest integer and a.llot equity
snares accordingly.
7.3 The equity shares to be i$Sued to the members of JGVL, LUSA, JIPPL, SURYA as above
shall be subject to Memorandum ·and Artlde of Association of Aashee and shall rank par/
pcissu with the existing equity shares of Aashee in all respects including dividends.
7.4 The equity shares shall be issued In dematerialized form to those sh.;reholders who hold
shares of JGVL, LUSA, JIPPL, SURYA in dematerialized form, in to the account in which
shares of JGVl, LUSA, JIPPL, SURYA are held or such other accou11l as ls Intimated by the
shareholder1 ro JGVL, LUSA. JIPPt, SURYA and or Its Registrar before the Merger Record
Date. All those shareholders who hold shares of JGVL, LUSA, JIPPl, SURYA in physical
form shall also have the option to receive the Equity Shares, as the case may~
dematerialized form provided the derails of their account with any deij~ITT-,\ • t~'fhAAi-Al\1,ik,
participant are intimated in writing to JGVL, LUSA, JlPPL, SU!lYA and/ or its Registrar
before the Me.rger Record Date, otherwise they would be issued equity shares In
physical torm onty.
7 ,5 The Board of Director$ of Tran~eree Company shall, If and to the Extent required, apply
for and obtain any approvals from concerned government / regulatory authorities for
the lssue and allotment of equity st1ares to the members of JGVL, LUSA, JIPPl, SURYA
pursuant to clause 5 (a) of the scheme.
7,6 The Equity shares to be issued by Transfer~ Company to the members of JGVL1 LUSA,
JIPPL, SURYA pursuant to clause 7.1 of this scheme, In respect of any shares in JGVL,
LUSA, JIPP-l, SURYA which are held in abeyance under the provisions of Section 206A of
the Act or otherwise, pending a llcnment or settlement of dispute, by order of court or
Otherwlse, be held in abeyance by Aashee.
7.7 Transferee Company shall, If necessary and to the extent required, increase its
Authorlz_ed Share Capital to facilitate issue of Equity shares under this scheme.
7.8 Approval of this Scheme by the shareholderS of Transferee Company shall be deemed to
be the due compliance of the provisions of the Sectlon 81(1A) and other relevant
applicable provision of the Act for the issue and allotment of Equity Shares by
Transferee Company to the shareholders of JGVL. LUSA. JIPPL, SURYA as provided In the
scheme.
7.9 The new Equity Shares of Transferee company issued in pursuant to Clause 7.1 of this
scheme wm be listed and/ or admitted to trading on all the Stock Exchange on which
shares of Transferee Company are listed on the Effective Date. The new Equity Shares
shall however be listed sub/ect to Aashee complying wlth all the applicable regulations
and obtaining d,e requisite approvals from all the regulatory authorities f)ertalnlng to
the !isling of new equity shares.
7.10 The Approval of this Scheme by the shareholders of all the companies under section 391
to 394 shall be deemed to have the approval under Section 16, 31 and other applicable
7.11 The Share of Rs. 10/· shall be Issued at Par. After merger, the Paid up Equity Share
capital of the Aashee will be of 15,03,55,930.00 (Rupees Flfteen Crores Three Lacs Fifty
Five Thousarid Nine Hundred a.nd Thirty only) divided Into 1,50,35.593 (One crore Fifty
I.des Thirty Five Thousand Five Hundred and Ninety Three) Equity Shares of Rs. 10/·
(Rupees Ten) each fully paid up.
7.12 Every Shareholder of Surya, other than Merging companies, will get 100 (One Hundri;d)
Equity Share of Transferee Company ofRs. 10/· each at par.
8. ACCOUNTING TREATMENT
8.1 On the Scheme becoming effective, Aashee shall account for amalgarilatton In its books as
under:
(a) All the assets and liabilities as on the Appointed Date. record-ad in the books of
JGVL, LUSA, JIPPL, SURYA shall stand transferred lo and vested in Aashee
pursuant to tho scheme and shall be recorded by Aashee at their ,espectlve
Book Values;
(b) Aa,hee shall credit to Its share capital account, tho aggregate face value of :he
equl!y shares issued by it pursuant to clause 6(a) of this scheme;
(c) The Investment in fqui 1y Capital of JGVL, LUSA, JIPPL, SURYA as appearine In the
books of accounts of Aashee, shall stand cancelled;
(d) Inter-Company balances, if any, will stand c.ancelled;
(e) The eiccess or deficit, as the case maybe, nf the Net Assets Value of JGVL, LUSA,
JlPPl, SURYA transf-erred to Aashee, After making adjustments as mentioned in
Sub Clause [b), (c), and (d) above, shall be credited/ debited by Aashee to
Statement of Profit & Loss Accour,t.
Cxplanation:
"Net As,ets Value• shall be computr,d as tho book value at 1he assets or JGVL,
LUSA, JfPPL, SURYA transferred to Aashee less the book value of the liabilities of
Aashee.
(f) If considered appropriate for the purpose of application of uniform accounting
methods and polices between JGVL. lUSA, JIPPL. SURYA and Aashee, Aashee
may make ,uitable adjustments and reflect the effect thereof ,n the statement
of Profit & Loss of Aashee.
9. CHANGE OF NAME
With Effect from Effective Date the name of Aashee lnfotech limited shall stand changed to
"Jatalia Global Ventures limited" or such other name as may be approved by the concerned
Registrar of Companies. Further the n~me of Aastiee Info Tech wherever lt occurs in the
Memorandum and Articles of Association be sul;;stltuted by Jatalia Global Ventures Limited.
10. COIVl81NATION OF AUTHORISED CAPITAL ANO CHANGr IN THE NAME OF MEMORANDUM
ANO ARTICLES OF ASSOCIATION
a. Upon sanction of this scheme, the authorised share capital of Aa$hee shall automattc.illy
stand Increased Without any further Act, Instrument or deed on the part of Aashee
Including payment of stamp duty and fees payable to Registrar of Companies, by the
Authorised Share Capital of JGVL, LUSA, JIPPL, SURYA as on the Effective Date.
b. The Capital clause of Memorandum of Association and Article of Association of Aashee
shall, upon the coming into effect of this scheme and without any Further act or deed,
be replaced by the following :
MEMORANDUM OF ASSOCIAITON
V Authorised Share Capital of the Comf}any fs Rs. 15,33,70,000/· (Rupees Fifteen Crores
Thirty Three L<>Cs and Sever,ty Thousa,id only) divided into l,Si,87,000 (One Crore
Fifty One Lacs Eighty Seven Tliousand) Equity Shares of Rs. 10/- (Rupees Ten) each
and 150000 (Orie lac_ f.ifty Thousand) 10% Redeemable Preference Shares of R~. 10/
{Rupees Ten) each.
ARTICLES Of ASSOCIATION
3. The Authorised Share Capital of the Company is such sum and divided Into such
number of shares of Rs. 10/- each as may be specified in the clause~ tf;:>~ -s;;=--·C',s,\ ,JV ~,A
Memorandum of Association of the company c;ipable of being Increased or
decreased, sub divided, consolidated In accordance "'1th the companies regulations
and legislative provisions for the time being in force In this t/ehalf. The company has
power to increase and reduce the cap-ital and to divide the shares in the capiral for
the time bein~ into several dasses and to attach thereto respectively such
preferential, deferred, qualified and special rights, privileges and o;inditions as may
be determined by or in accordance with regulation of the Company or vary modify
or abrogate any such rights, privileges or conditions In .such manner as may for the
time being provided in the regulations of the company.•
c. Upon coming into effect of this scheme, the Main Object clause/Clai1ses of
Memorandum of Associatfon of Aashee will stand replaced by the fallowing
cJause/cfauses:-
1. To carry on the business of buying, selling, reselling, fmportfng, exporting,
transporting, storing, developing, promoting, marketing or ~uppfyirig, tradinG, dealing
in any manner whatsoever in any commodities, substances, article,, merchandise,
goods; and things weather solid or liquid or gaseous, Including electrical and
electronic goods, machine, toots, hardware items, domestic appliances, plastic
materials, food provisions, tea, coffee, beverages, dry cells, batteries, dyes, iron and
still materials, cement fabrication items, all types of chemicals, adhesives,
presentation articles, ferrous and non ferrous material, stainless stilt goods, aluminum
goods, mill stores, textile storl!s, pesticides, perfumes and essence, drugs and
pharmaceuticals ROQds, readymade garments and cloths. petroleum products.
chemfcals, medfcines, agriculture lmplementi, laboratory equipment, scientific
instruments, grocery materials, klrana goods, textile, leather on retoll as well os on
wholesale basis in India or elsewhere in the world.
2. To canyon the business as exhibitors of various goods, services and merchandise and
-----\ 5'1- --
n,ercha·ndise manufactured/dealt with/provided by the company in India or
elsewhere In the world .
3. To act as a !Jroker, trader, agent, C&F agent, shipper. commission agent, distributer,
represenlat,ve, franchis_er, consultant, collaborator, stockiest, llasoner, job worker,
export ~ouse of goods, merchandise and services of all grades, specificat,ons,
descriptions, applications, modalities, fashions, Including by products, spares or
accessories thereof on retail as well as on wholesale basis in India or elsewhere ,n the
world.
4. To carry on the business of information technology, developing software, internet
and all activitles related to lt Including those In the hardware development or sales
which are required to bring any software so developed to a marketable. state and to
carry on the business of providing technology consulting and all activities related to
make this service acceptable to all our clients and providing export management
consutrancy and all related activities.
5. To carry on business of long term and short term maintenance of computer systems
and associated equipment, replacement and services of computer , computer
perlphierals, related electrlcal equipments and items in tndia and abroad to establish
and run data processing/ Computer centers and to offer consultancy and data
processing and other services that are normally offered by data processing and other
iype.s of customers and to impart training on electronic data processing and other
types of customers to impart training on electronic data processing, computer
software and hardware to customer and others.
d. The Memorandum and Article of Association of Aashee (relating to authorised share
capital ) shall, without any further act, lnstrum~,lt or deed, b-e and stand altered,
modified and amended, pursuant to section 16, 17, 3t, 94 and 394 and applicable
provisions of the Act, as the case may be and for this purpose the stamp duties and fees
paid on the authorised capital of JGVL, LUSA, JIPPL, SURYA shall be utllltt<d and applied
to the Increased authorised share capital of Aashee and no payment of any extr~t~ >--. (\. t...~~
duty and or fee shall be payable by Auhee for Increased ln the authorised share capit31
to the extem.
c. It is certified that the approval of the members of Aashee to the scheme st,all be
deemed to be their consent and approval also to the alteration of memorandum and
alteration of Aashee as may be required under the Act.
11. CONDUCT OF BUSINESS TILL THE EFFECTIVE OATE
With Effect from Appointed date and up to the Including the Effective date:
a. JGVl, LUSA, JIPPL, SURYA shall be deemed to have been carrying on and shall carry on Its
business and activities and shall be deemed to have held and stood possessed of all I~
properties and assets for an account of and Jn trust of Aashee. JGVL, LUSA, JIPPL1 SURYA
undertakes to hold its said assets with utmost prudence until Effect)ve Oare.
b. JGVL, LUSA, JIPPl, SURYA carry on Its business and activities with reasonable diligence,
busin~s prudence and s~all not, except in the ordinary course of business or without
prior wlitten consent of Aashee, alienate charge, mortgage, encumber or otherwise deal
with or dispose of any business or part thereof.
c. All the proflts or Income accruing or arlsmg ro JGVL LUSA, JIPPL, SURYA or expenditure
or losses arising or Incurred or suffered by JGVL, LUSA, JIPPL, SURYA shall for all the
purposes be treated and deemed to be accrued as the income or profits or losses or
expenditure as the case may be of Aashee.
d. JGVl, LUSA, JIPPL, SURYA shall not vary the terms and conditions of employment of any
of the employees of JGVL, LUSA, JIPPL, SURYA except In ordinary course of business or
without the prior consent of Aashee or pursuant to any pre-exlstlng obligations
undertaken by mem, as the, a5 the ca5e may be, prior to the appointed date.
e. JGVL, LUSA, JI PPL. SURYA and Aashee shall be entitled, pending sanction of the scheme,
to apply to the centr;il/state government, ano all oilier agencies, departments and
authorities concerned as are necessary under any law or rules, for such consents,
approvals and sanctions, which·may be requln!d pursuant to this Scheme.
12.. EMPLOYEES
a. On the Scheme becoming operative, all staff, workman and employees of JGVL, LUSA,
JIPPL, SURYA, who are In servke as on the Effect1Ve Date shall become staff, Worl<man
Employees of Aashee, without any break In their services and on the basis of contlnulty
of service, and the terms and conditfons of their employment with Aashee shall not be
less favorable then those applicable to them with reference to their employment with
JGVL, LUSA, JIPPL, SURYA on Effective Date. Aashee agrees that services of all the
employees with JGVL, LUSA, JIPPL, SURYA up to the effective date shall be taken Into
account for purposes of all retirement benefits to which they may be eligible as on the
Effective Date. Any question that may arise as to whether any staff , workman or
employees belong to or does not belong to JGVL,LUSA, JIPPL, SURYA, shall be mutuaily
dec:ided by the Board of Directors ot JGVl, LUSA, JIPPL, SURYA and Aashee or
committee(s) thereof.
b, IL is expressly provided that, on the Scheme becoming Effective, the Provfdent Fune:!,
Gratuity Fund, Superannuation Fund or such other Special Fund, if Any, or trusts
(hereinafter collectively rererred as "Funds") created for the benefit of 1he staff,
workman and employees of JGVL, LUSA, JIPPL, SURYA shall, with the approval of the
concerned authorities, become Funds of Aashee, or shall be transferred to or merged
with olher similar funds of Aashee for all purposes whatsoever in relation to the
admlnistratlon or operation of such Funds or in relation to the obligation to make
contribution to sald funds in accordance with the provisions thereof as the terms
provided fn the respective trust deedi., lf any, to the end and intent that all rights,
duties, powers and obligations of JGVL, LUSA, JIPPL, SURYA in relation to such Funds
shall become those of Aashee.. It i5 clarified that the services of the staff, workmen and
employees will be treated as having been continuous for the purpose of the said funds.
12. CHANGE OF MANAGEMENT OF THlc COMPANY
The Promoters and Directors of Jatalla Global Ventures Limited will become the
Promoters and Directors of Aashee Jnfotech Limited (changed name atter approval of
Scheme as Jatana Global Ventures Limited). The existing Promoters and Directors of
.., .. <:-<J!§ C'-y -.,/ l "- r··
--~)
Transferee Company will cease to be 1he Promoters and Directors of Aashee !nfotech
limited (changed name after approval of Scheme as Jata Ila Global Ventures limited).
13. LEGAL PROCEEDINGS
If any suit, app<;?al or other proceeding of whatever nature by or against JGVL, LUSA,
JIPPL, SURYA Is pending on the Effective Date, the same shall not abate or be
discontinued or In any way be prejudicially affected by reason of or by anything
contained in this scheme, but the said suit, appeal or other legal proceedings may b<>
continued, prosecuted or enforced by or against Aashee, in the same manner and to the
same extent as 1t would or might have been continued, prosecuted and enforced by er
agalnstJGVL, LUSA, JIPPL, SURYA as if thisstheme had not been made.
14. CONTRACTS, DEED, ETC.
a. Subjects to other prov!Slons of this scheme, all contracts, deeds, bonds, lnsunince,
letters of Intent, undertakings, arrangements, policies, .greements and other
instruments, if any, of whatsoever nature pertaining to JGVL, LUSA. JIPPL, SURYA which
is subsisting as on the effective date, shall be in full force and effect against or in favour
of Aasnee, and may In enforced by or against Aashee .as full and effectually as if, instead
of JGVL,LUSA,JIPPL, SURYA, Aashee t,ad been a party thereto.
b. Aashee and JGVL, LUSA, JlPPl,SURYA shall enter into and/ or issue and/ or execute
deeds, writlng5 or confirmations or enter Into any tripartite arrangements,
confirmations or novations in orde-r to give formal effect to the provisions of this
scheme. Aashee shall be deemed to authorised to executive any such deeds, writings,
conflnnations on behalf of JGVL. LUSA, JIPPl. SURYA and to Implement or carry out •II
formalltles required on part of JGVL, LUSA, JIPPL, SURYA to give effect to the provisions
of this sch1ime.
15. SAVINGS OF CONCLUDED TRANISATIONS
a. The merger of JGVL, LUSA, nPPL, SURYA lnto Aashl!e under clause 14 above and the
continuance of proceedings by or against JGVL, LUSA, JIPPL, SURYA shall not affect any
tran!li!r.tion or proceedings already concluded on or after the Appointed Date tlj~~ E_(°):\. f,/'/), _..\•;:.\
---
Effective Dace, to the end and intent the Aashee accept and 3dopts all acts, deeds, and
things done and executed by or on behalf of Aashee.
16, WINDING UP Of JGVL,LUSA,JIPPL,SURYA
a. On tile arnalgamation scheme become effective, JGVL. LUSA, JIPPL. SUl1YA stiall stand
dissolved automatically without being wound up.
PART Ill
GENERAL TERMS ANO CONDITIONS
17, APPLICATION TO HIGH COURT
JGVL1 LUSA, JIPPL, SURYA and Aashee shall make joint application with all reasonable dispatch
make all necessary ap.pffcallons under section 39110 394 read with Section 100 to 103 of the Act
and other applicable provision of Act to High court for seeking approval of scheme.
18, APPROVAL OF SHAREHOLDERS TO SCHEME THROUGH POSTAL 8AUOT ANOE.VOTING!
The Approval of the scheme from the shareholders of Aashee will obtained through special
resolution pass.ed through postal baOot and e-vorlng and the special resolution passed shall be
acted only if the votes cast by public shareholders In favour of the propo·saJ amount to at least
two times the number of votes cast by public shareholders against it.
19, MODIFACTION OR AMENDMENTS TO THE SCHEME
Aashee and JGVL,LUSA,JIPPL,SURYA by their respective Board of Directors(" the Board" wlilch
term shall include committee thereof ), may assem to make and / or consent to any
modiflcations/aniendments to any conditions or limi tations that the court and/or any other
scheme or to any conditions or limitations that the court and/or any other authority under law
may deem Rtto direct or Impose, or which may otherw1Se be considered necessary, desirable or
appropriate as a result of subsequent eveats or otherwise by them (i.e. the Board). JGVL, LUSA,
JIPPL, SURYA and Aashee by their respective Boards are authorised to take all such steps as may
oo necessary, desirable or proper to resolve any doubts, difficulties or questions whatsoever for
carrying the scheme, weather by reason of any directive or Orders of any other authorities or
otherwise howsoev~r, ¥ising out of or under or by Virtue of rhe scheme and/or any matter
connected therewith.
20, CONOmONALITY OF THE SCHEME
This Scheme is and shall be cond,t1onal upon and subject to:
__ ,
a. The requisite consent, approval, or permission of the central govemmem or any other
statutory or regulatory authority, which by law may be nece&sary for the
lmplementarion of this scheme.
b. The Scheme being ~pproved by the requisite majority in number and value of such
classes of persons including the respectlve members and/or creditors of JGVL, LUSA,
JIPPL, SURYA and Aashee as may be directed by High Court
c. The sanction of High Court under Section 391 to 394 read with section 100 to 103 of the
said Act in favour of JGVL, LUSA, JIPPL, SURYA and Aashee under the said provisions and
to the necessary order under s·ection 394 of the Act being obtained;
d. Certified or authentlcatcd copy of the order of the High Court sanctioning the scheme
being filed with the Registrar of Companies, Haryana by A.a.shee, JGVL, LUSA, JJPPL,
SURYA as may be applicable.
e. Each sanction of the scheme shall be given effect to as par the· chronology In which it
has been provided for In \he Scheme. Each part in each Section is Independent of each
Section and Is severable The Scheme shall be effective upon sanc tion of the High Court
of Judicature of Haryana. However Failure of any one part of one Section for lack of
necessary approval from the shareholders/ creditors/ statutory regulatory authorities
or for any other reason thac lhe Soard of Director may deem fit thc.n this shall no.I result
in the whole scheme falling, il shall be open to the concerned Board of Directors to
consent to sever such pa rt(s) of the Scheme and implement the rert of the scheme with
such modification.
21. EFFECT OF NON-RECIPT OF APPROVALS
In the event of any of the s·aJd sanctions and approvals referred to in the preceding
clause not being obtained and/ or the Scheme not being sanctioned by the High Court or
such other competent authority and I or the order not being passed as aforesaid before
315' December, 2013 or within such further period or periods as may be agreed upon
between JGVt, LUSA, JIPPl, SURYA aod Aashee by their respective Board of Directors
and Which the Board of Directors of the companies are hereby empowered a9!1\)~. FS,' . C,s,\
authorised to agree to and eKtent the Scheme from tfme to time without!~~>/,,,.,,., -c:i1
A a ~JI\'"'.:::'.!£ ~/
limitation), this scheme shall stand revoked, cancelled and be of no effect, save and
except in respect of any act or deed done prior thereto as is contemplated hereunder
or as to any rights and/ or liabilities which might ha11e arisen or accrued pursuant
thereto and which shall be governed and be preserved or worked out as is specifically
provided In the Scheme or as may otherwise arise in law.
22. COSTS, CHARGES & EXPENSES
All costs, Charges, taxes including duties, levies and all other expenses, If any (Save as
Expressly otherwise agreed ) of Aashee, JGVL, LUSA, JIPPL, SURYA arising out of or
Incurred lrJ carrying out and implementing this scheme and matters Incidental thereto
shall borne by the respective companies .
••••••••